Shareholders of Zenith Bank Lose Over N3.13billion Within Three Days
- The equity capitalisation of Zenith Bank dropped by 0.41% between Tuesday and Thursday, as investors' confidence in the company declined
- Shareholders of the financial institution lost N3.13 billion following the fall in the creditor's market capitalisation in the last three days of this week
- Zenith Bank is one of the most capitalised company on the Nigerian stock market and one of three commercial banks in the top ten of the bourse
Zenith Bank shareholders lost over N3.13 billion in three days after the company's equity capitalisation declined in the capital market between Tuesday and Thursday.
The financial institution's market capitalisation dropped in the course of the week amid low investor confidence, which has seen the stock price lose value.
Why the loss by Zenith Bank shareholders
As at the end of trading in the Nigerian bourse on Thursday, the capitalisation of Zenith Bank settled at N747.23 billion, down by 0.41% according to the analysis of the stock performance.
Source: Facebook
It had dropped from N747.23 billion on Tuesday, June 22, 2021, which was when the company's share price began to depreciate before it appreciated on Thursday, June 24, 2021.
Within this period, the stock price had shed N0.1kobo, but not before it dropped from Monday's N23.9kobo to N23.8kobo the next day, then depreciated to N23.5kobo on Wednesday, before ending Thursday with N23.8kobo after gaining.
Meanwhile, Legit.ng had previously reported that Ebenezer Onyeagwu, the Group Managing Director of Zenith Bank, invested N112 million in the lender.
He purchased five million shares with the fund in different tranches. Onyeagwu initially acquired two million units of shares, before purchasing another one million units.
The GMD also bought 1.5 million and 500,000 units of shares. This acquisition was meant to increase his stake in Zenith Bank.
Source: Legit.ng
