FINANCIAL AND ECONOMIC NEWS

Hello,
Here are some of the top company stories in Nigeria today 28th of June 2017.

1. Coronation Asset Management Limited, the asset management arm of Coronation Merchant Bank Limited, has received regulatory approval to float an initial public offering (IPO) to raise N400 million for a new mutual fund. Link


2. Ecobank Transnational Incorporated (ETI) Plc, the pan-African financial services holding company for the Ecobank group, may issue about 6.7 billion ordinary shares under a $400 million convertible bond issue being planned by the company. Link
 
 
3. Authorities of the Nigerian Stock Exchange (NSE) have approved the delisting of Ashaka Cement Plc from the Exchange, paving the way for the subsidiary of Lafarge Africa to revert to a private limited liability company. Link

 
4. Chief Executive Officer of Premium Steel and Mines Limited, formerly called Delta Steel Company, Ovwian-Aaldja, Prasanta Mishra, has assured that production would begin at the Aladja Complex before the end of this year. Link

 
5. Dangote Cement Plc, owed by Africa’s richest man Aliko Dangote, said it may shut its operations in Ethiopia, if authorities in the central state of Oromia do not reverse an order to cement makers to hand over control of some parts of their businesses to local people. Link

 
6. A firm, Starcom Media, has sued Korean automobile giant, Hyundai Motors, at a Lagos High Court for allegedly selling a defective car to it. Link