The shares of Nigeria’s Tier-2 lend, FCMB Group Plc rallied on Wednesday at the Nigerian Exchange Limited (NGX) following a cross deal worth N20.9billion.
The stock rose to N12.3, after adding 45 kobo or 3.8 percent of N11.85, being its day-open price. The stock nears its 52-week high of N12.95 as against a corresponding week low of N8.35.
This follows two heavyweight crosses of 1.2 billion shares each at N12.30 and a subsequent 500,000-unit cross at the same price.
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In all, the company’s 2.940 billion shares worth N35.879 billion were traded on Wednesday at the Nigerian Exchange.
At the close of trading on the Exchange, FCMB led both the volume and value charts with 2.9 billion units traded (80.17 percent of total volume) and led the value log with N35.9 billion (57.98 percent of total trade value).
FCMB Group is aggressively pursuing a N500 billion capital raise to meet regulatory requirements by March 31, 2026. The group is boosting its technology-driven ecosystem and expanding its retail presence.
The stock has recently been trading between N11.85 and N12.50, showing a strong upward trend fueled by this high transaction volume.
