Nigerian equities market closed on a negative note on Monday as Forte Oil Plc, Honeywell Flour Mill Plc, Cadbury Nigeria Plc, Nascon Allied Industries Plc and Oando Plc led a N64bn loss at the close of trading on the floor of the Nigerian Stock Exchange. The NSE market capitalisation dropped from N9.009tn recorded on Friday […]
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[su_dropcap]F[/su_dropcap]orte Oil Plc is set to raise N100 billion fresh capital to expand its operations within Nigeria. Consequently, the directors of the company are seeking the approval of shareholders at the forthcoming annual general meeting to raise the funds, reports. According to the company, the N100 billion could be raise through a rights issue, bond […]
Read More The apex regulatory authority of the Nigerian capital market, the Securities and Exchange Commission (SEC), has ordered major marketing company, Forte Oil Plc, to issue bonus shares to its shareholders on or before the end of the first quarter of 2016. The development which was confirmed in a statement by the company in Lagos, has […]
Read More Petroleum products marketing firm, Forte Oil Plc, has increased its net income by seven per cent to N4.2bn compared to N4bn recoded in the same period the previous year. The company’s other Income post increased by 216 per cent to 2.6bn compared to N0.84bn in the third quarter of 2014, largely due to gains on […]
Read More The Nigerian stock market yesterday experienced a break-even rally led by the Forte Oil Plc as the petroleum company announced that it had been awarded contract to lift crude oil by the Federal Government of Nigeria. Forte Oil’s share price rose by N12.10 to close at N254.10, representing an increase of 5.0 per cent. In […]
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