Skye Bank Shares Fall to Rock-Bottom as Capital Concerns Weigh
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Shares of Skye Bank Plc fell to a record low, hitting the floor price set by the Nigerian Stock Exchange, as investors fretted about the lender’s future in the face of rising bad debts and a shrinking economy.
The stock slid 3.9 percent to 50 kobo as of 1:16 p.m. in Lagos, Nigeria’s commercial capital. That extended declines this year to 68 percent, the worst performer in the 171-member NSE All Share Index after Forte Oil Plc.