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Nigeria equity gains 0.23% as Access Bank mandates Citi, others for investors call on Eurobond

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Nigeria’s equity market sustained its rally on Friday as the main index increased by 0.23 percent on the back of gains in the shares of Okomu Oil and Nascon.

The All-Share Index rose by 88.16 points to close at 38,962.28 against 38,874.12 recorded in the previous day.

The market cap of equities listed on the NGX increased to N20.30 trillion from N20.25 trillion recorded in the the previous day.

The total volume traded closed with an exchange of 633.520 million units valued at N6.45 billion traded in 3,228 deals. The market breadth was positive with 25 gainers as against 11 losers.

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The NGX 30 Index increased by 0.31 percent to close at 1,616.80 points as against 1,611.85 points as on the previous day. Market turnover closed with traded volume of 564.76 million units.

Shares in Okomu Oil gained 5.77 percent to close at N110 per share, Eterna gained 4.95 percent to close at N7, while Champion Breweries gained 4.71 per cent to close at N2 per share.

Nascon share gained 4.59 percent, Access Bank rose 4.07 percent while Ecobank close up with 2.92 percent.

Meanwhile, Access Bank announced that it had mandated Citi, J.P. Morgan, Renaissance Capital and Mashreqbank as joint book-runners and Chapel Hill Denham & Coronation Merchant Bank as financial advisors and joint book-runners to arrange a global investor call starting on 27 September 2021 at 2 PM UKT / 9 AM NYT in addition to a series of fixed-income investor calls.

In a regulatory filing, the lender said the issuance of an inaugural Basel III-based perpetual Non-Call 5.25-year benchmark USD denominated Regulation S/144A Additional Tier 1 bond offering under the Bank’s Global Medium-Term Note Programme may follow, subject to market conditions.

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