Mutual Benefit Assurance Soars to Highest Value in 52-Week
In the equities market, Mutual Benefits Assurance Plc topped performers as investors ramped up the company shares throughout last week.
The Assurance services company’s share price increased by about 57% due to volume, and consistent shares accumulation by shareholders. The price upticks was driven by investors sentiment, before earnings delay announcement.
Data revealed that Mutual Benefit Assurance Plc gained more than half of its market value, climbing to N21 billion, its highest value in the last 52-week in Nigerian market. Trading data showed that its share price reached N1.05 per share on Friday as investors began to pay attention to the assurance services provider’s earnings outlook.
Mutual Benefit gained exactly 56.7% week on week to N21.064 billion following its strong market activities amidst delay in 2024 audited financial statement.
Mutual Benefits Assurance Plc stakeholders that the release of its Audited Financial Statements for the year ended 31 December 2024 and by extension, the Unaudited Financial Statements for the quarter ending 31 March 2025 will be delayed.
“Our actuaries and external auditors are still working on finalizing the audit exercise. Given the foregoing, we do not envisage that we would have completed the audit exercise and obtained the approval of the primary regulator for the 2024 AFS by 31st March 2025.
“We estimate that the 2024 AFS and the 2025 Q1 unaudited financial statement will be released on or before 30th June 2025”, the company said in its regulatory filing on Friday. #Mutual Benefit Assurance Soars to Highest Value in 52-Week Seplat Energy Trades Flat Despite Price Sensitive Corporate Actions
