ADVERTISEMENT

CCNN market value hits N254bn

The market value of the Cement Company of Northern Nigeria (CCNN), having gained 110 per cent at the close of trading on December 31, 2018, increased to N254,983,918,740.40 billion shortly after the merger with BUA Group’s Kalambaina Cement Company Limited was approved by the regulators and 13.1bn shares were listed on the NSE. The company’s share price, which opened the year at N9.50, closed at N19.95.

CCNN on Monday listed 11.887 billion ordinary shares of 50 kobo each on the Daily Official List of the Exchange, raising the cement company’s total issued and fully paid up shares from 1.257 billion ordinary shares of 50 kobo each to 13.143 billion ordinary shares of 50 kobo each.

ADVERTISEMENT

With this current market value, CCNN has been lifted to the 12th most capitalised company at the stock market.

CCNN and Kalambaina Cement Company, a wholly-owned subsidiary of BUA Cement Company Limited, had merged to strengthen CCNN as Nigeria’s largest cement company in the core Northern region of the country. Both CCNN and Kalambaina Cement are based in Sokoto.

ADVERTISEMENT

The new CCNN now has two million metric tons per year combined capacity and will leverage on the energy efficiency of the Kalambaina plant which uses alternative fuel, such as coal, heavy oils and gas, and it is expected to help solve the power problem with limited downtime and further opportunities for growth and expansion.

CCNN and Kalambaina Cement Company have related core investor.

The merger brings the total capacity of BUA’s Cement operations to eight million metric tons per annum following the recent completion of BUA Obu Cement Line 2 in Okpella, Edo State.


Share this article

HOW I BECAME FREE OF HIGH BLOOD PRESSURE

DIABETES TOTAL CURE

EKWENSI helps to revive and rejuvenate the Pancreas which is the root causes of Diabetes, which results to frequent urination and loss of weight, tingling of the feet’s and many.

This drug cures diabetes completely within 2months of frequent usage. Call Sam on 08124139999 or 08077776226



BREAKTHROUGH NATURAL CURE FOR PROSTRATE ISSUES IN JUST 15 DAYS!!!

You Can Prevent PROSTATE CANCER!!!

Your PROSTATE ENLARGEMENT Is REVERSIBLE

Don't Let It Threaten You!

To SHRINK And NORMALIZE Your PROSTATE Within 15 Days Without Surgery Or Chemical Drugs, Click Here!!!

Join us on


Share your story with us: 08189301900 (Whatsapp and SMS only) Email: dtonline@dailytrust.com

Complain about a story or Report an error and/or correction: +2348189301900

DISCLAIMER: Comments on this thread are that of the maker and they do not necessarily reflect the organizations stand or views on issues.