Dangote Cement to Make N321.8bn Profit
- By Abimbola Tooki
- Published October 26th, 2010
- News
- Unrated
THE sales revenue projection for Dangote Cement Plc, which will be listed on the Nigerian Stock Exchange Tuesday Oct 26, 2010 shows a turnover of N225.9 billion at the end of this year, out of which N118.8 billion will be profit attributable to shareholders. By the end of 2011, the emergent company forecasts a turnover of N398 billion and N247.6 billion net profit with 82 per cent 88.4 per cent from Dangote Cement; while in 2012, turnover and profit will be N510.8 billion and N321.8 billion, helped by 83.2 per cent and 92 per cent, respectively from Dangote Cement.
The shares of Dangote Cement Plc will finally be listed by introduction. The company will also offer 100 million of its shares to the market, in a special sales offer, at the rate of N135 per shares.
Meanwhile market commentators have all said the listing has the capacity to diversify the capital market and further deepen it effectively, especially once all the 5.5 billion shares, the company will eventually offer to the market, are all taken.
Ike Chioke, managing director, Afrinvest Limited said banking stocks currently account for a greater proportion of market capitalization but the listing of Dangote Cement which will add about N2.13 trillion to market capitalization, will diversify the market.
Chioke, speaking at the weekend in Lagos said with the listing, foreign investors will now have option of investing in Dangote Cement which will be the largest quoted company measured by market capitalization.
According to him, “Dangote Cement represents a new class in the Nigerian capital market. It will diversify the domestic capital market. The listing by introduction of the shares of Dangote Cement will expand the market from about $40 million to $55 million. Banking sector share in the market will shrink to about 30 percent. Foreign investors coming in now will see a more diversified market.”
The shares of Dangote Cement Plc will finally be listed by introduction. The company will also offer 100 million of its shares to the market, in a special sales offer, at the rate of N135 per shares.
Meanwhile market commentators have all said the listing has the capacity to diversify the capital market and further deepen it effectively, especially once all the 5.5 billion shares, the company will eventually offer to the market, are all taken.
Ike Chioke, managing director, Afrinvest Limited said banking stocks currently account for a greater proportion of market capitalization but the listing of Dangote Cement which will add about N2.13 trillion to market capitalization, will diversify the market.
Chioke, speaking at the weekend in Lagos said with the listing, foreign investors will now have option of investing in Dangote Cement which will be the largest quoted company measured by market capitalization.
According to him, “Dangote Cement represents a new class in the Nigerian capital market. It will diversify the domestic capital market. The listing by introduction of the shares of Dangote Cement will expand the market from about $40 million to $55 million. Banking sector share in the market will shrink to about 30 percent. Foreign investors coming in now will see a more diversified market.”
