Shongai plans listing on stock exchange

[newton]

Plans have reached advanced stage for the listing of Shongai Packaging Industries Plc on the Nigerian Stock Exchange (NSE).
Moshood Olariwaju Kassim, chairman of the company, disclosed this at the weekend during a chat with newsmen on plans to move the firm forward.

He expected that by 2006, the company would have been in the position to go to the capital market and ask Nigerians to take part and share from the profit because it has now moved from minus to multiple plus and Nigerians would be convinced to put their money there.

BusinessDay... the voice of business - Shongai plans listing on stock exchange

[solainvest]

Originally Posted by newton

Plans have reached advanced stage for the listing of Shongai Packaging Industries Plc on the Nigerian Stock Exchange (NSE).
Moshood Olariwaju Kassim, chairman of the company, disclosed this at the weekend during a chat with newsmen on plans to move the firm forward.

He expected that by 2006, the company would have been in the position to go to the capital market and ask Nigerians to take part and share from the profit because it has now moved from minus to multiple plus and Nigerians would be convinced to put their money there.

BusinessDay... the voice of business - Shongai plans listing on stock exchange

Many thanks for the information on this.

This is their website Shongai Packaging Company Limited

Is it possible we all sniff around to see how the intend coming, maybe a PP before listing by introduction.

[solainvest]

i spoke to one of the managers in the company with the aim of getting the house packaging them.

He confirmed what the chairman said but said it was an intent. He said it might take another 6 months for a firm position to come out.

I suggest we keep our ears to the ground as things might be happening without our knowledge.

[solainvest]

THISDAYonline

[BLUEMONEY]

Originally Posted by solainvest

THISDAYonline

by what i read, i think they will likely do an IPO. but with these days of many PP if they come out today, it will be with a PP. i am keeping my fingers crossed.

[hispy99]

Shongai targets 50 per cent oil sub-sector shares
By Udeme Ekwere
Published: Monday, 1 Sep 2008
Shongai Packaging Industry Nigeria Limited, is planning an increase in its market share of the oil sub-sector to 50 per cent by the end of the year.

The company, which manufactures industrial and domestic items, has developed series of local industrial products, including oil services, and is currently servicing more than 20 per cent of the oil services sub-sector.

The Managing Director of the company, Mr. Francis Nikam, said in a chat with newsmen on Thursday that gaining 100 per cent control, had to be a gradual process, because enough infrastructure had to be put in place.

He, however , said that the company was sure that in the next six months, it would control 50 per cent of the market.

Nikam said the company, through its local content products development, had developed products such as “Spud Gap”, used by the oil companies to protect oil leakage.

He added that the product had been accepted by major oil companies in the country, even as it remained the only source of supply across the country.

He said before the development of the product by Shongai, many oil companies imported the item from foreign countries, which involved the expending of huge foreign exchange.

He, however, added that the foreign exchange would be saved, as the products were now being locally procured and could rank well with imported ones.

He also said that some major oil companies, such as Oando Oil Plc, Texaco Oil Plc, African Petroleum Plc, Honeywell and Techno Oil were among the company’s clients. He added that some others had indicated interest in the product, saying that the company would be investing more in the development of more oil service products with 100 per cent local content.