The market capitalisation of Stanbic IBTC Holdings Plc dropped N47.755 billion during Friday’s transaction on the floor of the Nigerian Stock Exchange (NSE), indicating a 10 per cent fall of its market share.
The Holdings share price also depreciated by N4. 3 Kobo as its share dropped from N43 per share to N38.7 Kobo per share.
This marks the second time in a week the company’s share was falling after it shed N2, when it fell from N45 per share to N43 per share on Tuesday. Outstanding shades of Stanbic IBTC currently stand at 11,105,997,568.
Conversely, the shares of Fidelity Bank Plc rose by 5.53 per cent, closing at N2.48 per share from N2.35 per share.
The market capitalisation of Fidelity Bank also appreciated by 5.53 per cent, when it climbed to N71.857 billion up from N68.090 billion. The bank in effects gained N3.766 billion, while its outstanding shares is put at 28,974,797,023.
The rise in the shares of Fidelity Bank is coming 72 hours after it announced the issuance of the largest Tier II Local Bonds In Nigeria.
According to a statement on Tuesday, Fidelity Bank Plc successfully issued 10 years N41.21 billion in fixed rate unsecured subordinated bond at a 8.5 percent coupon rate due in 2031.
Fidelity Bank noted that the bond issuance was fully subscribed given that total investor interest and commitments in the bonds were N56.6 billion.
The N41.21 billion bond transaction is a landmark achievement in the Nigerian domestic debt market as its reported to be the largest corporate bonds ever issued by any Nigerian Bank.
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