By Dipo Olowookere
The trading symbol of The Initiates Plc has been changed by the Nigerian Exchange (NGX), a notice has confirmed.
The symbol was modified to TIP from INITSPLC, the disclosure stated.
The firm is a professional waste management company based in Port Harcourt, Rivers State, delivering waste management, industrial cleaning and decontamination services to both private and public sectors.
“Trading license holders and the investing public are hereby notified that the change of trading symbol of The Initiates Plc from INITSPLC to TIP has been implemented by the NGX,” the statement disclosed.
Business Post reports that shares of The Initiates closed flat at the stock exchange on Monday at 47 kobo. The firm has shares outstanding of 889,981,552 units and a total market value of N418.3 million.
The Initiates boasts of an experienced management team led by Mr Ossai Reuben Mustapha, who is a Chartered Waste Manager and Environmentalist with over 20 years of professional experience.
He holds an MEng degree in Environmental Engineering. He is a professional member of the Chartered Institution of Waste Management (UK), and International Solid Waste Association (ISWA), Vienna.
The board is chaired by Mr Joe Ogbonna Anosikeh.
