New Issues Coming Soon
August 29th, 2006 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
Ogbuotobo Chuks
After the recent consolidation of the banks, about 15 companies are concluding plans and strategies to open application lists for new issues. It is believed that the new issues segment of the Nigerian capital market is set to witness its highest level of activities after the bank recapitalization exercise.
A check with the authorities of the NSE and some intending companies reveals that the months ahead is going to witness the invasion of the market by new issues as companies seek fresh equity funds for recapitalization.
Some of the companies that have indicated plans to embark on this journey include Livestock Feeds, Intercontinental Bank Plc, Union Home savings & loans, Law Union& Rock Insurance, Dunlop Nigeria, Lasaco Insurance, Mutual Benefits Assurance, Crusader Assurance, Standard Alliance Assurance, Pharma-Deko, Longman Nigeria and Wapic insurance.
From the list, it is clear that the insurance companies are all hustling to meet up with the N5 billion recapitalization deadline of December 2006. this exercise is one that will lead to the merger and acquisition of some companies.
For prospective investors, we at stockmarketnigeria.com advice that you keep your money in your pickets or within reach, so that when these equities come knocking, you will not be found wanting.
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