BUA Cement Lists 33.86 Billion Shares On NSE, Now Third Largest Listed Company
06:34
West Africa’s second-largest Cement company, BUA
Cement, today listed on the Nigerian Stock Exchange with a market
capitalization of 1.2trillion Naira (USD3.3billion) bringing to a
conclusion, the merger between the BUA-owned cement entities, Cement
Company of Northern Nigeria and Obu Cement company.
This
listing brings BUA Cement’s total capacity across all its cement assets
to 8million MTPA with an additional 3million metric tonnes plant coming
on stream in H2, 2020.
"Further to our Market Bulletin of 24
December 2019, with reference number: NSE/RD/LRD/MB74/19/12/24, wherein
the market was notified of the suspension placed on the trading in the
shares of CCNN following the Court’s Sanction of the Scheme of Merger
(Scheme) between CCNN and OBUCement (now BUA Cement Plc), please be
informed that the Scheme has been concluded.
Consequently, the
entire 13,143,500,966 ordinary shares of CCNN was delisted from the
Daily Official List of The Nigerian Stock Exchange (The Exchange) today,
Thursday, 9 January 2020, while the entire 33,864,354,060ordinary
shares of 50 kobo each of BUA Cement Plc (Formerly OBU Cement) were
listed today, Thursday, 9 January 2020.
Please note that
following The Exchange’s receipt of regulatory evidence of the change of
name of OBUCement to BUA Cement Plc, the Company was listed as “BUA
Cement Plc”. The trading Symbol is BUACEMENT."
Caption:L
– R: Finn Arnoldsen, Group Chief Operating Officer (BUA Cement);
Chimaobi Madukwe, Group Chief Operating Officer (BUA Group); Oscar
Onyema, President, Nigeria Stock Exchange (NSE); Yusuf Binji, Managing
Director, BUA Cement; Kabiru Rabiu, Group Executive Director, BUA Group;
Ahmed Aliyu, Company Secretary, BUA Cement, O’tega Ogra, Group Head,
Corporate Communications, BUA Group and Gbolahan Oluwasegun, Senior
Manager, Corporate Finance, BUA Group at the 1.3trilliion Naira listing
of BUA Cement on the NSE on Thursday.
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