29 August 2012

Nigeria: SEC Woos Onitsha Investors As Bulls Consolidate

The Securities and Exchange Commission (SEC) has taken its enlightenment programme aimed at encouraging more investors and companies to patronise the capital market, to Onitsha, the commercial city of Anambra State.

The apex regulator is having a three-day investor outreach in the commercial city between today and Friday.

The Director-General of SEC, Ms. Arunma Oteh, is leading other top executives of the commission on the programme.

According to SEC, the outreach would be used to explore ways through which businesses in Onitsha can leverage the capital market to raise capital for business expansion and wealth creation.

Part of the activities slated for the outreach include, a courtesy call by SEC management on Governor Peter Obi of Anambra State and the Obi of Onitsha, Nnaemeka Alfred Achebe.

Also SEC will participate in the inauguration of SAB Miller's factory and Orient Petroleum. There will equally be an interactive forum with the business communities of Onitsha and Nnewi and a quiz competition for secondary schools in the state.

SEC had in the past taken similar investors' fora to Sokoto State, Rivers State and Akwa Ibom State, among others.

Meanwhile, trading at the stock market continued on a bullish note for the second day running as the Nigerian Stock Exchange (NSE) All-Share Index, rising by 0.17 per cent to close at 23,531.63.

Twenty-seven stocks recorded price appreciation compared with only 12 stocks that depreciated. Construction firm, Roads Nigeria Plc led the price gainers with N0.34 to close at N7.28 per share.

Glaxosmithkline Consumer Nigeria Plc trailed with a loss of N0.26 to close at N30.80, while Cement Company of Northern Nigeria Plc and Union Bank of Nigeria Plc garnered N0.20 and N0.16 respectively.

Conversely, PZ Cussons Nigeria Plc led the price losers with N0.75 to close at N23.00 per share. National Salt Company of Nigeria Plc trailed with a loss of N0.24.

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