Ladol is considering a potential listing on the Nigerian Stock Exchange and corporate bonds, two strategic moves the company’s management hopes will help raise capital to expand its facilities and attract new customers.
Amy Jadesimi, the Managing Director of the logistics firm which currently operates in Nigeria’s offshore oil industry, disclosed that the capital raise is expected to happen over the next two years.
According to her, the company is open to “open” to taking advantage of public equity and the debt market. She, however, did not mention exactly how much of the company’s stock will be available for issue.
The Nigerian Stock Exchange has done a lot to restructure in the last few years to make themselves attractive to a company like ours, so we will definitely consider that. We will consider listing on the bond market too. -Jadesimi
Bloomberg reports that the company plans to construct additional infrastructure “on its roughly 100-hectare (247-acre) free trade zone on an island across Apapa, Lagos’s main port.” The proposed infrastructural upgrade will, among other things include quay walls, roads and fabrication equipment.
Samsung Heavy Industries Co. Limited is also currently completing construction works on what is adjudged one of the world’s largest floating rigs on Ladol. The rigs belong to Total SA.
Already a high-value company…
Ladol has received as much as half billion dollars worth of investment in the past ten years.
Total’s $4 billion Egina floating production, a storage and offloading vessel with a capacity of about 2.3 million barrels of crude, is currently docked at Ladol. Initial construction work for the vessel was earlier happening in South Korea before it shipped to Ladol earlier this year for the final stages of construction work.
Ladol, which stands for Lagos Deep Offshore Logistics Base, is a family-owned logistics and engineering facility in Nigeria. It was founded in the year 2000.
