At least nine companies listed on the Nigerian Exchange Limited are facing significant balance-sheet pressure, with shareholders' funds turning negative. The companies include Premier Paints Plc, Omatek Ventures Plc, NCR Nigeria Plc, Caverton Offshore Support Group Plc, Nigerian Enamelware Plc, RT Briscoe Plc, SCOA Nigeria Plc, Tripple Gee & Company Plc and Union Dicon Salt Plc. The negative shareholders' funds positions ranged from N225.98 million to N15.5 billion, indicating that accumulated losses and other balance-sheet pressures have eroded shareholders' capital to varying degrees. Analysts have warned investors to look beyond share-price gains.
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