By Dipo Olowookere
The year 2021 on the floor of the Nigerian Exchange (NGX) Limited was interesting because of some intrigues that occurred, especially towards the end.
The year closed with a shocker when it was announced that a two-year-old bank, Titan Trust Bank, was acquiring a 104-year-old Union Bank of Nigeria.
This was not a transaction that was expected by observers when the likes of Zenith Bank and Access Bank were thought to be in the best position to shoot the shot.
Another was the crisis at the oldest bank in the country, First Bank, which led to the sacking of the board and that of its parent company, FBN Holdings, leading to the acquisition of a substantial stake by Mr Femi Otedola.
This sparked a boardroom leadership tussle between Mr Otedola and Mr Tunde Hassan-Odukale, chairman of FBN Holdings.
These and others affected the prices of shares on the NGX trading platform and Business Post is bringing the 10 worst performing stocks and 10 best performing stocks in the outgone year, where the exchange grew by 6.07 per cent.
The worst performing stock last year was SCOA Nigeria as its value went down by 64.51 per cent to settle at N1.04 compared with the previous year’s N2.93.
CWG dropped 55.91 per cent to N1.12 from N2.54, Sunu Assuances depreciated by 55.00 per cent to trade at 45 kobo compared with its value in 2020 at N1.00, FTN Cocoa lost 40.91 per cent to sell for 39 kobo versus 66 kobo, while AIICO Insurance declined by 38.05 per cent to 70 kobo from N1.13.
In addition, Japaul fell by 37.10 per cent to 39 kobo from 62 kobo, Vanleer lost 33.54 per cent to sell for N5.45 in contrast to N8.20 it closed 2020, DAAR Communications shed 33.33 per cent in the year to 20 kobo from 30 kobo, Enamelware decreased by 26.70 per cent to N16.20 from N22.10, while Sterling Bank depreciated by 25.98 per cent to N1.51 from N2.04.
On the flip side, Morison Industries finished the year as the best performing stock with a price appreciation of 306.12 per cent to N1.99 from 49 kobo.Royal Exchange grew by 238.46 per cent to 88 kobo from 26 kobo, Lasaco Assurance rose by 200.00 per cent to N1.05 from 35 kobo, Vitafoam improved by 188.46 per cent to N22.50 from N7.80, while Honeywell Flour jumped by 183.33 per cent to N3.40 from N1.20.Further, Champion Breweries chalked […]