BUA Cement to List Shares on NSE Thursday
By Dipo Olowookere
The board and management of BUA Cement will list shares of the company on the trading platform of the Nigerian Stock Exchange (NSE), Business Post can authoritatively report.
The stock of the cement company would be admitted on the NSE on Thursday, January 9, 2020, a circular from the exchange sighted by this newspaper on Wednesday confirmed.
BUA Cement is joining the local bourse after the recent merger between Obu Cement and Cement Company of Northern Nigeria (CCNN), with approvals received from the court as well as regulatory agencies, including the Securities and Exchange Commission (SEC).
BUA Cement is an arm of the BUA Group owned by foremost business mogul, Mr Abdulsamad Rabiu. A subsidiary of the company, Kalambaina Cement, merged with CCNN to form a formidable entity, before the new firm joined forces with Obu Cement.
From information scooped by Business Post, the management of BUA Cement Plc will be at the exchange tomorrow for the listing and would be honoured with a closing gong ceremony.
BUA Group has been embarking on massive investments in recent times so as to expand its reach and market share. The company has Dangote Group as one of its stiff competitors.