Honeywell Flour Mills, a food and agro-allied company, says it will continue to repay its credit facility to First Bank of Nigeria (FBN) based on agreed terms.
The stock market attracted N42.142 billion invested in 1.602 billion shares in 19,507 deals last week.
This was an increase of 292 per cent compared with the N10.759 billion staked on 1.263 billion shares in 19,975 deals the previous week. Equally, the NGX All-Share Index rose 1.27 per cent to close higher at 39,301.82.
The rebound in the market could be linked to investors’ renewed appetite for shares boosted by the release of companies’ first quarter (Q1) results.
According to analysts, the floor of the NGX would be flooded with more results this week.
“We expect NGX’s floor to be flooded with results as the Q1-2021 earnings season commences in full swing. We believe investors will be looking for clues on how corporate earnings will evolve in 2021, given the expected improvement in macroeconomic conditions.
…represents 10 percent of total loan portfolio
First City Monument Bank (FCMB) has grown its loan portfolio to the agriculture sector in Nigeria to N74.10 billion, representing 10 percent of the Bank’s total loans. This figure is one of the highest in the banking industry. The feat, which was achieved in December 2020, is a signal that the deliberate strategy and sustained support of the lender to agribusiness are yielding the desired results and that the Bank’s deployment approach has been widely appreciated. It also represents another milestone and bold step by the Bank to further expand and deepen its support to agribusiness, its value-chain and the overall growth of the Nigerian economy.
Punch Newspapers
Sections
Published 25 January 2021
Flour Mills Nigeria Plc has listed its tranche A and tranche B bonds on the floor of the Nigerian Stock Exchange.
The listing was commemorated with a digital Closing Gong ceremony at the NSE.
The Divisional Head, Listings Business, NSE, Mr Olumide Bolumole, said, “It has been a positive start to the Nigerian capital market in the new year and we are pleased to commemorate the listing of Flour Mills’ N29.8bn Tranche A and Tranche B Bond Issue, the final series under its N70bn Bond Issuance Programme.
“As is our custom to celebrate significant milestones and accomplishments of our issuers, we also applaud and recognise the contributions of Mr Paul Gbededo who recently retired after 38 years of meritorious service and congratulate Mr (Boye) Olusanya on his appointment as the Group MD/Chief Executive Officer at the NSE, we remain committed to supporting the strategic objectives of our issuers, providing a platform for raisin