UBA ads

Dangote Cement Plc, in a notice published on the Nigerian Stock Exchange (NSE) website, has hinted at the possibility of listing on a major stock exchange.

In the notice signed by its Managing Director, Joseph Makoju, the firm also stated that it was considering all strategic and financial options, “which may include a possible international listing of its shares”

LSE in sight?

Group Executive Director of Dangote Industries Limited Edwin Devakumar, in a recent interview, had disclosed that the company was considering listing on the London Stock Exchange (LSE) in 2019.

In April 2018, there were also media reports that the company could be listing on the LSE. Dangote Cement same month, announced the appointment of Cherie Blair and Mick Davies as Independent Non-Executive Directors.

A listing could mean the firm joining the likes of companies such as Seplat and Oando Plc, and enable the firm to raise more funds for a planned pan African expansion.

The company had recently raised N50 billion Series 1 and Series 2 Notes under its N150 billion commercial paper programme.

Dangote Cement Plc closed flat at N227 in today’s trading session on the Nigerian Stock Exchange. Year to date, the stock is down 1.30%.

The company was listed on the NSE in 2010 and is currently the biggest stock by market capitalization accounting for 28.3% of the NSE’s total market capitalization.

Standard chartered

Results for the first quarter ended March 2018 show revenue increased from N208 billion in 2017 to N242 billion in 2018. Profit before tax increased from N77.3 billion in 2017 to N108 billion in 2018. Profit after tax also rose from N55.8 billion in 2017 to N72.1 billion in 2018.

Standard chartered
Deal book 300 x 250
Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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.