Dangote Cement Plc, the newly formed entity from the Dangote Cement and BCC Plc merger, will make available any amount of shares required by investors available from the very day of listing.

 

The listing date is tentatively fixed for November 5, 2010 on the expectation that the October 28, 2010 court ordered meeting is executed as intended.

 

From all indications, this appears to be on track and the listing, the largest in the annals of the Nigerian Capital Market will be an eventful one.

  

Confirming this today, Mr. Olakunle Alake, Chief Operating Officer (COO) of the Dangote Group, assured that the issues raised by the analyst and investment communities have been addressed and that it is their intention to ensure that the free float requirement is addressed. Their initial concern, he stated, “had to do with the illiquid nature of our markets at this time and the depth of the market to absorb the volume of shares that would have been necessary to immediately meet that commitment”

 

He insisted that in order to address this, the shares of the newly listed company will be available to the public from that day onwards at the price of N135.

 

Mr. Alake was a guest of Boason OMOFAYE on the flagship financial TV programme – Business Morning on Channels TV this morning and he addressed a number of issues related to the DCP/BCC merger.

 

The webcast of the video is available on the site for easy reference.

 

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