New high for local index in 2017
Jo-Maré Duddy – Letshego Holdings Namibia (LHN) ended its first day on the local index of the Namibian Stock Exchange (NSX) with a share price of N$4.05 a piece.
The company listed on Thursday. Its closing price was nearly 6.6% higher than the N$3.80 in its initial public offering (IPO), which was extended and closed on Tuesday. LHN also dropped its share price offer from N$4.70 to N$3.80 when it announced the extension.
A total of 3 236 LHN shares changed hands in three deals on Thursday and its total trading value for the day was N$12 994. No deals were clinched for Friday and the company ended the week at N$4.05 per share.
At the time of listing LHN’s market capitalisation by total shares in issue was about N$1.9 billion. At close of business Thursday it was N$2.025 billion, making it the fourth biggest group on the local index.
Both PSG Namibia and IJG Securities have a “buy” recommendation for LHN. PSG’s 12-month target price is N$5.64 per share, while that of IJG is N$4.97. Namibia Equity Brokers (NEB) put its target price at N$4.67 per share.
LHN raised N$182.3 million through its IPO which offered 100 million ordinary shares. Only 47 968 043 were applied for and issued.
Biggest winner
Capricorn Investment Group was the biggest winner on the local index of the NSX last week. Its closing price Friday was N$18.18 per share, up 3c a piece or 0.2% from the previous one.
FNB Namibia Holdings ended the week 1c or 0.02% higher at N$46.76 per share. Bidvest Namibia dropped 1c or 0.1% to close the week at N$7.86 per share.
More than N$32.1 million worth of shares were traded on the local index last week compared to nearly N$28.3 million the previous one.
Namibia Breweries recorded the bulk of the business with total trade of nearly N$26.02 million. Just over N$5 million of Capricorn’s shares changed hands, while FNB Namibia traded nearly N$1.07 million. Bidvest Namibia sold N$5 508 worth of shares.
Record
The local index ended last week at its highest level so far this year. The index closed at 591.47 points, up 0.03% on the previous week. This is the second week in a row the local index ended at record year-levels.
Total trade of nearly N$359.7 million was recorded on the overall index of the NSX last week compared to about N$194.1 million the previous one. The index ended Friday at 1 128.44 points, down 0.64% on the previous week.
The JSE All Share Index shed 0.47% during the week under review.
B2Good Corp was the biggest winner on the overall index of the NSX last week. The majority shareholder in the Otjikoto gold mine in Namibia closed the week at N$37.89 per share, an increase of N$3.22 or 9.3% compared to the previous week.
MMI Holdings, which lost 6.6% during the week under review, was the biggest loser. The group closed Friday at N$17.35 per share, N$1.23 less the previous one.
The company listed on Thursday. Its closing price was nearly 6.6% higher than the N$3.80 in its initial public offering (IPO), which was extended and closed on Tuesday. LHN also dropped its share price offer from N$4.70 to N$3.80 when it announced the extension.
A total of 3 236 LHN shares changed hands in three deals on Thursday and its total trading value for the day was N$12 994. No deals were clinched for Friday and the company ended the week at N$4.05 per share.
At the time of listing LHN’s market capitalisation by total shares in issue was about N$1.9 billion. At close of business Thursday it was N$2.025 billion, making it the fourth biggest group on the local index.
Both PSG Namibia and IJG Securities have a “buy” recommendation for LHN. PSG’s 12-month target price is N$5.64 per share, while that of IJG is N$4.97. Namibia Equity Brokers (NEB) put its target price at N$4.67 per share.
LHN raised N$182.3 million through its IPO which offered 100 million ordinary shares. Only 47 968 043 were applied for and issued.
Biggest winner
Capricorn Investment Group was the biggest winner on the local index of the NSX last week. Its closing price Friday was N$18.18 per share, up 3c a piece or 0.2% from the previous one.
FNB Namibia Holdings ended the week 1c or 0.02% higher at N$46.76 per share. Bidvest Namibia dropped 1c or 0.1% to close the week at N$7.86 per share.
More than N$32.1 million worth of shares were traded on the local index last week compared to nearly N$28.3 million the previous one.
Namibia Breweries recorded the bulk of the business with total trade of nearly N$26.02 million. Just over N$5 million of Capricorn’s shares changed hands, while FNB Namibia traded nearly N$1.07 million. Bidvest Namibia sold N$5 508 worth of shares.
Record
The local index ended last week at its highest level so far this year. The index closed at 591.47 points, up 0.03% on the previous week. This is the second week in a row the local index ended at record year-levels.
Total trade of nearly N$359.7 million was recorded on the overall index of the NSX last week compared to about N$194.1 million the previous one. The index ended Friday at 1 128.44 points, down 0.64% on the previous week.
The JSE All Share Index shed 0.47% during the week under review.
B2Good Corp was the biggest winner on the overall index of the NSX last week. The majority shareholder in the Otjikoto gold mine in Namibia closed the week at N$37.89 per share, an increase of N$3.22 or 9.3% compared to the previous week.
MMI Holdings, which lost 6.6% during the week under review, was the biggest loser. The group closed Friday at N$17.35 per share, N$1.23 less the previous one.
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