The market capitalisation of admitted securities on the NASD Over-The-Counter market as at May 2016 stood at N415.62bn.
This was represented by 107.64 billion shares in issue out of which only 16.72 billion shares had been dematerialised (15.54 per cent).
The dematerialised volume of 16.72 billion shares represents an increase of 1.46 per cent on the previous level of 16.48 billion shares. The NASD OTC Securities Exchange currently trades on equities and bonds.
A total of 28 million shares worth N449.15m were traded in 728 deals in May 2016 (174 million units worth N424.41m traded in 346 deals in the preceding month). The volume traded dropped by 83.92 per cent while the value traded rose by 5.83 per cent as compared to the previous month.
The equities market was led by Industrial and General Insurance Plc and Friesland Campina WAMCO Nigeria Plc which accounted for 50.34 per cent and 35.95 per cent respectively of the volume and value traded.
The market recorded a negative monthly return on the index as reflected in the downward movement of the Unlisted Securities Index. The USI closed at 630.91 points as against 636.20 points representing a decrease of 0.83 per cent month-on-month.
The NASD OTC Securities Exchange grew in size and structure in the first quarter of 2016.
The volume and value traded on the market rose by 13 per cent and 52 per cent respectively. A total of 144.36 million shares worth N1.01bn were traded in 675 deals in Q1, 2016 (128.12 million units worth N665.33m traded in 150 deals in the preceding quarter 1, 2015).
The NASD Plc is the promoter of a trading network that eases secondary market trading of all securities of unquoted public companies primarily in Nigeria but with a focus on the West African region. Its intention is to stimulate growth by easing the capital raising process.
The market registered an average deal volume and value of 214 units and N1.50m respectively in 2016 Q1.
At the end of the quarter, the NASD OTC market had opened up 26 securities to trade as against 24 securities in the previous quarter.
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