FBN Holdings Jumps by 9.98% as Buy Actors Take Stage
Financial services boutique, FBN Holdings Plc, surged by about 10% in the equities segment of the Nigerian Exchange (NGX) after the group cancel annual general meetings with shareholders indefinitely.
In the local bourse, data showed that the financial services group market price increased by 9.98% to N22.60 per share from N20.55 on Monday. Details of the last two trading activities in the market showed that huge volume of FBN Holdings shares exchange hands.
The financial stock has gained more than 11% in the equities market in two days after bearish session last week. The activities of buy side actors on the Nigerian Exchange has against shifted FBNH market value above N811 billion ahead of public offer pricing.
Before the group canceled annual general meetings, it had told the Nigerian Exchange about plan to declare dividend and raise about N350 billion as part of efforts to recapitalize First Bank of Nigeria Limited. #FBN Holdings Jumps by 9.98% as Buy Actors Take Stage
