BUA Cement lists 33.86bn shares on NSE, becomes third largest listed company

0

Plc attained an accomplishment on the Nigerian Stock Exchange (NSE) with the listing 33.86 billion normal shares at N35 per share, becoming the third largest company on the bourse.

The News Agency of Nigeria (NAN) reports that the listing of the company’s shares on Thursday included N1.18 trillion to the NSE .

Bua Sugar  bua cement

WAEC 2022 Massive Recruitment for Graduates - APPLY NOW

NSE Chief Executive Officer, Oscar Onyema, while talking on the listing in Lagos, stated it was interesting for the exchange to tape such significant listing at the start of the year.

Mr Onyema stated it was one more chance for financiers to have accessibility to a company with great record.

He discussed that the company had strategies to transfer to the Premium Board of the NSE in an extremely brief time period.

Commenting on the listing, Yusuf Binji, the Managing Director/Chief Executive Officer of , stated it was a significant gratification for the team to have its shares listed after a merging of 2 firms.

Mr Binji stated the listing of BUA complied with the merging of Cement Company of Northern Nigeria (CCNN) as well as Obu Cement Company Limited that manage substantial markets in Southern as well as Northern components of the nation.

“We are generating regarding 13 billion shares from the obsolete CCNN as well as 20 billion from Obu Cement as well as this offers us an overall share ability of regarding 33 billion shares with an overall of N1.8 trillion.

“We are coming into the market at the beginning of the year, and since trading has commenced, we expect to see a lot of value added for the shareholders during the course of the year,” he stated.

Mr Binji stated the bigger company’s complete set up ability stood at 8 million statistics tonnes per year (mtpa).

He stated the company chose to combine to produce a solitary entity that would certainly take advantage of on all the harmonies.

Mr Binji stated the merging would certainly make sure enhanced earnings as well as returns for financiers.

“The significance of the merging is to be able to use the possibilities as well as open the chances that are within both firms in regards to market dimension, dealer base, earnings as well as personnel abilities.

“There will be a lot of positives as we go along the way,” he included.

He stated with the listing, investors should anticipate far better returns due to the fact that the company would certainly be just one of the top best returns paying firms in Nigeria.

YOU MAY ALSO READ : IRAN vs US – Shiites Might Land Nigeria In Serious Trouble

Mr Binji stated the bigger company would certainly be placed to disperse its items in new geographical markets, developing the possibility for extra investor worth development.

“The merging of both firms to come to be BUA Cement would certainly supply chances for substantial price financial savings as well as boosted functional performances by improving procedures as well as optimizing making use of consolidated resources.

“It has actually additionally given a system where the bigger company take advantage of economic situations of range in purchase, circulation as well as production of the items used to our consumers.

PAY ATTENTION TO : Eptech Power Control Systems Limited Recruitment 2020 Application Form Portal

“We expect the benefits accruing from greater to accrue to many stakeholders,” he stated.

(NAN)

MORE POSTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.