By Dipo Olowookere
A total of 11,886,823,200 ordinary shares of 50 kobo each of Cement Company of Northern Nigeria (CCNN) Plc have been listed by the Nigerian Stock Exchange (NSE).
This followed the approval of the application filed by the cement manufacturer to list these shares on the trading platform of the local stock exchange.
The 11.9 million ordinary shares of CCNN came up from the scheme of merger between the company and Kalambaina Cement Company Limited.
Business Post reliably gathered that the application filed by CCNN was approved by the management of the NSE on Friday, December 21, 2018.
It was learned that the stockbrokers for the transaction were Stanbic IBTC Stockbrokers Limited and Union Capital Markets Limited, while both companies acted as the issuing houses/financial advisers. Recall that on Thursday, November 29, 2018, at two separate court ordered Extra-Ordinary General Meetings held in Sokoto, shareholders of shareholders of CCNN Plc and BUA Group’s Kalambaina Cement Company approved the merger of both companies.
