23rd October, 2019

On the Bid Cart: UAC-PROP topped other gainers for the day, rising 900bps to close at N1.09. The property development company, which gained over 90.00% after the announcement of its recapitalization and restructuring plans, saw massive sell offs after the rally as investors took profit on gains made. Following the sell-offs, UACN-PROP YTD loss is now at 42.93%. 

On the Offer Cart: UNIONDAC closed the day 833bps below its opening price, to settle at N0.22 (the lowest possible intraday price) with a bid to offer ratio of 0.54x. The counter traded at its 52 week high price of N0.33 in March but currently trades at a 33.33% discount to that peak.

Reporting for EasyKobo on Wednesday , 23 October 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited