Thursday, September 23, 2021

    45.90% of UAC-PROP’s Outstanding Shares Traded on NSE Today

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    At the close of trading today, a total volume of 8.52bn units of shares of UAC Property Devt Company of Nigeria Plc valued at N5.94bn were traded.

    This represents 91.02% of the total market volumes of 9.36bn while the value of UAC-RPOP shares traded represents 49.61% of the total market value traded which was put at N12.02bn.

    Furthermore, the volume traded represents 45.90% of UAC-RPOP’s total shares outstanding put at 18.56bn shares while the value of the shares traded also represents 34.93% of UAC-RPOP market capitalization as at November 17, 2020.

    A comparison of UAC-RPOP today’s volume traded with the previous day’s traded volume revealed that it increased by 554,651.71%.

    The share price of UAC-RPOP moved down by a tick size of -1.08% to close at N0.92k at the close of trading today from the previous price of N0.93k

    Year-to-date, UAC-RPOP shares have shed -8.91%, underperforming the broad market index, NSEASI, by 18.66%.

    It is pertinent to state that a similar pattern of market trading occurred on Tuesday September 01, 2020 with an update/alert issued by Proshare Research

    The trading today seem to represent the consummation of an earlier agreement signed by UACN with Custodian Investment Plc to sell 9.46bn units of UAC-RPOP shares to Custodian Investment Plc in two tranches. The 8.52bn units of shares traded today seem to represent the second tranche of sale as stated in the notice to the market published in August 2020.

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