Access Holdings Slips as Market Awaits Earnings
The stock market value of Access Holdings Plc declined by more than 2% on Wednesday as investors look forward to receiving the financial services company’s earnings.
Its share price declined to N24.25 on Wednesday due to sell pressures at the time the Nigerian Exchange recorded about a N1.45 trillion gain.
Its market value declined by 2.2% as 59.418 million units valued at N1.47 billion were traded in the local bourse; most of the transaction volume was led by sell-side actors.
At the close of the trading session, the market value of Access Holdings Plc’s 53.317 billion shares outstanding was valued at N1.303 trillion, which is about 16% below its highest value in 52 weeks.
Access Holdings is expected to release its results in the coming days, and analysts have maintained a bumper harvest expectation. With its significant expansion drive, some analysts think Access Holdings Plc may not pay an interim dividend unless it has exited the Central Bank forbearance restriction.
