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Dufil Prima, Acorn Petroleum now trading on NASD OTC

NASD OTC has announced that Symbol Codes have been created for Dufil Prima Foods plc and Acorn Petroleum plc, which were recently admitted to the trading platform.

The shares of Dufil will trade under the Symbol code SDDUFIL and have been entered to the board at the last documented price of ₦9:00 per share, which was the last issue price for the shares.

Dufil’s financial statements of 2013 indicate that the company made a PAT of ₦512 million (2012: ₦9.5m,) and paid a dividend of ₦0.65 (2012: ₦0.63) per share.

Once trading starts the market will reflect more up to date prices.

Shares in Acorn will trade under the Symbol code SDACORN and have been entered to the board at ₦2:80 per share, which was the issue price for the shares in 2011.

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The market will however reflect a more up to date price once trading commences on these shares and when financial statements of 2013 are released.

Shareholders in both companies may now approach their NASD OTC registered brokers to dematerialise and trade their shares on the OTC market.

READ ALSO: Downturn in the Nigerian Petroleum Industry: Considerations for ameliorating fiscal burden

Symbol codes are short unique identifiers made up of a combination of alphabets and numbers that represent each security traded on the OTC market.

The codes are assigned by the Central Securities Clearing System and make it easy for shareholders to identify their target company.  In addition, the codes often have an indicator that identifies where the security is being traded.