• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Finance

      Nigeria, Africa remittances on target as Wari, Lycaremit sign partnership

      January 21, 2021

      Companies

      Total Nigeria, Mixta, Valency, list new CPs on FMDQ platform to enhance financial markets development

      January 19, 2021

      Finance

      Amidst N32.22trn public debt, analysts say Nigeria’s external debt service manageable

      January 19, 2021

      Finance

      Stringent regulations, business environment forced Stanbic IBTC out of BDC business

      January 15, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      Markets

      Nairobi Stock Exchange pushes expansion plans with more listings in 2021, says CEO

      January 23, 2021

      Africa Investment Forum

      Africa’s $60bn losses in illicit capital flows due to multinationals’ tax avoidance, says AfDB Adesina

      January 22, 2021

      Frontpage

      Covid-19 vaccine: Nigeria, 54 others to benefit from African Union’s 270m doses

      January 21, 2021

      Finance

      Nigeria, Africa remittances on target as Wari, Lycaremit sign partnership

      January 21, 2021

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Companies

      Appeal Court suspends order against shutting of SEPLAT headoffice

      January 23, 2021

      Frontpage

      OPEC welcomes push for electric vehicles, but says fossil fuel remains strong

      January 21, 2021

      National: Governance, Policy & Politics

      Nigeria ramps up domestic LPG consumption above 1MMT, says PPPRA

      January 20, 2021

      Companies

      TIPP Oil, German lubricant maker, targets 2021 Nigeria launch with eco-friendly scheme  

      January 19, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      CBN meeting and NSE in focus

      January 18, 2021

      Analyst Insight

      Once again, fiscal stimulus takes centre stage

      January 18, 2021

      Analyst Insight

      Organisations must learn from the WhatsApp story  

      January 18, 2021

      Analyst Insight

      Data privacy maturity model in organisations

      January 11, 2021

Companies

BUA Cement gains 9.9% in post listing trading, boosts NSE’s capitalisation by N1tr

Adesola Afolabi

Adesola Afolabi is  Businessamlive Reporter.
You can contact her on adesola.afolabi@businessamlive.com with stories and commentary.

January 9, 2020589 views0 comments

BUA Cement gains 9.9% in post listing trading, boosts NSE's capitalisation by N1tr

Listed on the 9th of January at N35 per share, the shares of BUA cement, a cement manufacturing company formed as a result of the merger between Cement Company of Northern Nigeria Plc (CCNN) and Obu Cement Company, the stock rose 9.9 percent, Thursday, its first day of trading on the Nigerian Stock Exchange (NSE) to close at N38.45 per share.

The company closed the day with total value of shares sold amounting to N496 million according to data obtained from the NSE’s website.

Read Also:

  • Post-Covid-19: AXA invents novel ‘smart working strategy’
  • LME contemplates permanent shutdown of historic trading ring
  • Naira down N3 at N475/$1 in street trading as T-Bills market put up…

The listing which boosted the NSE’s market capitalization by N1.18 trillion is a welcome start says Pabina Yekere, chief investment officer at Sigma Pensions.

Having another big company being listed on the NSE, according to Pabina, is a good opportunity for investors. “One of the things you will find in the NSE is that we have roughly around 200 securities in the stock market, but only a handful has a market cap worth over 1 trillion.

But with another big player being listed, Pabina noted in a televised interview with CNBC Africa, monitored by our correspondent, that such listing gives a good profile to the NSE. He said “for us that manage long term pension funds, this provides an investable universe to expand.”

BUA Cement gains 9.9% in post listing trading, boosts NSE's capitalisation by N1tr

Earlier, Abdulsamad Rabiu, founder of BUA group explained that the merger is to facilitate an enlarged production capacity of up to 8.0 million metric tones per annum (mtpa)

“It is anticipated that in addition to meeting the demand from customers in our core regions in the country, the enlarged company would be positioned to distribute its products in new geographical markets, creating the potential for additional shareholder value creation,” he had said.

According to him, the merger would provide opportunities for significant cost savings and improved operational efficiencies by streamlining operations and optimising the use of combined resources.

He added that CCNN shareholders will become shareholders of a larger and highly profitable entity, stressing that synergies created as a result of the merger would create additional value for shareholders.

The stock market consequently recorded its highest gain for the year with a 2.92 percent growth in lead All Share Index which closed at 29.395.57 indext point while market cap inched to N15.2 trillion from N13.8 trillion it closed on Wednesday.

Share on Facebook Tweet Email
TagsBUA cement BUA Cement post listing trading businessamlive
PreviousGlobal oil and gas discoveries hit four-year high
NextPoor borrowing culture must change to facilitate faster economic growth – Olowu

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • Appeal Court suspends order against shutting of SEPLAT headoffice
  • Eko Atlantic City to utilise local content for economic diversification in Nigeria
  • Nairobi Stock Exchange pushes expansion plans with more listings in 2021, says CEO
  • Africa’s $60bn losses in illicit capital flows due to multinationals’ tax avoidance, says AfDB Adesina
  • Nigeria equities go bearish on selloffs in DangCem, AXA Mansard, UBA

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

Africa needs tapping domestic resources to raise $1.2trn annual funding for SDGs, says ECA

Frontpage July 12, 2018

1
2

EM managers urged to strengthen economic fundamentals against short-term risks to global financial stability

Frontpage April 18, 2018

3

Nigeria’s stock market claws back losses on buy interest in big cap companies

Frontpage December 20, 2018

4

Dangote Cement leads 8 others to lift NSE to N177bn gain

capital market July 23, 2020

5

Oil falls below $45 on demand concerns, set for weekly rise

Frontpage August 7, 2020

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.