By NBF News
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A turnover of 161.6 million units worth N144,365,71 million in 1,339 deals was recorded this week, in contrast to a total of 277.55 million units valued at N258,331.87 million exchanged in 1,274 deals during the week ended Thursday, February 24, 2011.

The most active bond (measured by turnover volume) was the 5.50 per cent FGN February 2013 (7th FGN Bond 2013 Series 1) with a traded volume of 48.1 million units valued at N44,905.94 million in 415 deals.

This was followed by the 10.00 per cent FGN July 2030 (7th FGN Bond 2030 Series 3) with a traded volume of 38.17 million units valued at N29,979.85 million in 325 deals. Eleven of the available 32 FGN Bonds were traded during the week compared with 14 during the preceding week.

The following new issues were approved by the Council of the Nigerian Stock Exchange last week: Oando Marketing Plc - Offer for sale of 171,500,000 ordinary shares of 50 kobo each at a price to be determined through Book Building.

Chellarams Plc - Offer for subscription of 1.5 billion fixed rate notes due 2015 (Series 1) under a N5 billion medium term note issuance programme.

Union Ventures & Petroleum Plc - Special Placing of 70,000,000 ordinary shares of 50 kobo per share at 52 kobo by Gland Energy Services Limited in Union Ventures & Petroleum Plc

However, the N37.5 billion 12.00 per cent Fixed Rate Senior Unsecured Bond due December 2015 in favour of Flour Mills of Nigeria Plc was admitted on the Daily Official List on Wednesday March 1, 2011. This forms part of a N70 billion Debt Issuance programme.By this action, the number of Industrial Loans and listed securities increased to 6 and 264, respectively.