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Dangote to list refinery, petrochemical coys on NSE

By on April 12, 2017

Alhaji Aliko Dangote, past President of the Nigerian Stock Exchange (NSE) on Monday promised the listing of companies under the Dangote Group of companies on the nation’s bourse. The companies include Refinery and Petrochemical.

Dangote stated this at the bell ringing ceremony on the NSE in Lagos as part of activities to mark his 60th birthday.

He said that he would ensure the listing of more of his companies on the NSE to deepen the market.

Dangote assured the stock broking community that he would continue to work with the Federal Government to diversify the economy and spread prosperity among Nigerians.

“We will continue work with the federal government to diversify the economy and spread prosperity to Nigerians,’’ he said.

He promised to list every single company that would be created by Dangote Group of companies.

“Very soon, we will start having our Annual General Meetings (AGM) in stadium, not halls due to the large shareholders we will be targeting. We will be having up to two million shareholders in the next ten years,” he said.

Records show that the four companies of Dangote listed on the NSE have a total market capitalisation of N2.9 trillion as at April 10.

This represents 32.7 per cent of the total capitalisation of the equities listed on the Nigerian bourse.

Alhaji Rasheed Yussuf, the former President, Association of Stock broking Houses of Nigeria  (ASHON) described Dangote as an important stakeholder in the Nigerian capital market.

“His decision to celebrate his birthday with the capital market community is a testimony to the mutually beneficial relationship to which has been involved over the years between Dangote, brokers and capital market in generally,” Yussuf said.

Meanwhile the market indices of the Nigerian Stock Exchange (NSE) resumed trading for the week on Monday on a bearish note following loses posted by some highly capitalised equities.

Reports that Nigerian Breweries recorded the highest price loss of N2.55 to lead the losers’ pack having closed at N122.45 per share.

 

[Daily Trust]