Stock market rises by 2% in week ended February 14

In the trading week ended Friday February 14, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation appreciated by 2 percent and 2.78 percent to close the week at 108,053.95 and N67.418 trillion respectively.

Sixty-five equities appreciated in price during the review week, higher than 58 equities in the preceding week. Thirty-one equities depreciated in price, lower than 34 in the preceding week, while 54 equities remained unchanged, lower than 58 recorded in the preceding week.

All other indices finished the review week higher with the exception of NGX Main Board, NGX Banking, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Growth, NGX Consumer Goods and NGX Oil and Gas which depreciated by 0.79 percent, 0.24 percent, 0.39 percent, 1.26 percent, 1.03 percent, 3.63 percent and 2.30 percent respectively while the NGX Sovereign Bond index closed flat.

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The NGX notified trading licence holders that additional 9,673,336,214 ordinary shares of 50 kobo each of Zenith Bank Plc were on Monday, February 10, 2025, listed on the Daily Official List of Nigerian Exchange Limited (NGX).

The additional shares listed on NGX arose from Zenith Bank Plc’s hybrid offer of Rights Issue of 5,232,748,964 ordinary shares of 50 Kobo each at N36 per share (The Rights Issue was 100 percent subscribed) and Offer for Subscription of 4,440,587,250 ordinary shares of 50 Kobo each at N36.50 per share (the Public Offer was 160.47 percent subscribed).

With this listing of the additional 9,673,336,214 ordinary shares of 50 kobo each the total issued and fully paid-up shares of Zenith Bank Plc has now increased from 31,396,493,786 to 41,069,830,000 ordinary shares of 50 kobo each.