Proshare Nigeria Pvt. Ltd. At the close of trading today, a total volume of 1.00bn units of shares of Unity Bank Plc valued at N700.69mln were traded.
This represents 68.17% of the total market volumes of 1.47bn while the value of UNITYBNK shares traded represents 11.97% of the total market value traded which was put at N5.85bn.
Furthermore, the volume traded represents 8.56% of UNITYBNK ‘s total shares outstanding put at 11.69bn shares while the value of the shares traded also represents 8.56% of UNITYBNK market capitalization of N8.18bn as of March 18, 2021.
A comparison of UNITYBNK today’s volume traded with the previous day’s traded volume revealed that it increased by 279,248%.
The share price of UNITYBNK moved down by a tick size of -2.78% to close at N0.70k at the close of trading today.
Year-to-date, UNITYBNK shares have moved up +2.94% as against -3.37% YTD return recorded by the NSEASI, outperforming the broad market index by 6.31%.
Details on this huge volume trading remains sketchy as at the time of filing this report. However, the trading transaction may represent attempts by key stakeholders in the bank to recapitalize and resolve the negative shareholders’ fund currently recorded by the financial institution.
Chart: 8 Days Share Price Movement and Volume Traded Source: NSE, Proshare Research Table: 8 Days Share Price Movement and Volume Traded
Source: NSE, Proshare Research
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