SAHCO to list shares on Nigeria Stock Exchange following IPO plan

Skyway Aviation Handling Company PLC (SAHCO) is expected to go public in other to raise funds from investors and it will list on the Nigeria Stock Exchange no earlier than this week.

Proposed deal IPO offer by SAHCO

SKYWAY AVIATION HANDLING COMPANY PLC

INITIAL PUBLIC OFFERING

by way of an Offer for Sale Of

406,074,000

Ordinary shares of 50 k obo each
at
N4.65 per share

Payable in full on Application

Following the completion of its initial public offering (IPO), Skyway Aviation Handling Company (SAHCO) Plc, will this week list its shares on the Nigerian Stock Exchange (NSE).

What does Sahco Nigeria do ?

“Skyway Aviation Handling Company Plc (SAHCO) is 100% owned by the Sifax Group and incorporated as an Aviation Ground Handling Service Provider under the Nigerian Company & Allied Matters Act of 1990.

SAHCOL which was formerly known as Skypower Aviation Handling Company Plc (SAHCO), before it was privatized and handed over to the Sifax Group on the 23rd of December 2009,was carved out of the liquidated Nigeria Airways Limited as part of the Nigerian Federal Ministry of Aviation’s reform of 1996.

Skyway Aviation Handling Company Plc (SAHCO), with its new private sector management composition and orientation has kicked off the development of business models geared towards ushering in efficient service delivery. Hence, SAHCO has invested in personnel development, state-of-the-art fleet replacement and massive infrastructural development, to ensure efficient and speedy service delivery.

Our duties in SAHCO involve all the actions that take place from the time an aircraft touches down on the tarmac to the time it is airborne. We also ensure that the right assignment is carried out in an efficient, speedy and safe manner, deploying the right tools.

SAHCO is significantly present in all the commercially operated airports in Nigeria, where excellent and speedy services are offered in the following areas: Ramp handling, Passsenger handling and Cargo handling”

43 Nigeria Stock Exchange companies released important information about dividend payments

43 listed companies on the Nigeria stock Exchange have released important dates on Dividends.

This information is important to the shareholder. It includes dividend declaration dates, dividend pay amount, qualification date, closure date, and payment date.

Notable companies are Transcorp, Zenith Bank, Dangote Cement, UBA bank, FCMB bank.


First Bank bans its stock selling and meets to decide when to release their financial report

First bank board members meet ahead of the earnings A1 2019 report. The Board member is scheduled to meet on April 25, 2019, and more information will be available to the shareholders and the public after the meeting. 

The company is currently working on the earnings report for the term that ended on March 31, 2019.  April 25 meeting will focus on discussing the financial report before the firm approves the financial statements to be released to the public.

“This is to inform the public and our stakeholders that the board of directors of FBN Holdings Plc will be meeting to consider the Q1 2019 Accounts, on Thursday, April 25, 2019,” the statement said.

As a result of this development, the board has announced the commencement of a closed period, prohibiting the trading of its shares on the NSE by some set of people.

“Consequently, there will be a closed period from Thursday, April 11, 2019, till 24 hours after the accounts are filed with the Nigerian Stock Exchange (NSE), in line with rule 17.18 of Part 2 (Issuer’s Rules) of the NSE’s Rule Book (2015),” the firm stated.

Jumia is preparing to list on New York Stock Exchange for $1.1 Billion locking out Nigerian Investors

The company is expected to go public to raise about $250 million to fund its business. The company is a market hub for online selling and buying. They started in Nigeria and they can be compared to Amazon and Alibaba. Jumia is the place to go to buy household products like technology devices, sneakers, home goods, toilet papers, sneakers and they offer services like hotel bookings, food deliveries, and other things.  

The company is valued at $1.1 billion dollars. ” The filing documents show that the company‘s operating losses increased from $173-million in 2017 to $190-million in 2018. On the other hand, turnover increased at a faster rate, suggesting the company is heading in the direction of profitability” – MSN. 

If the company lists on New York Stock Exchange (NYSE), it will lock out Nigerian investors because only American citizens are allowed to invest in any stocks listed on NYSE

FCMB stock nears worrisome price level

FCMB stock has unperformed recently despite reporting better than expected profit for last year. The stock closed at 1.87 Naira on April 8, 2019. 52 weeks price range was 1.32 N – 2.73 N. The stock was down – 18.11 percent on the 1-year return. FCMB stock pay 7.49 percent dividends.

Q1 earnings report for the year 2019 is due on 29/04/2019. 

FCMB is a financial service company, their business include micro-lending, asset management, stock broking, trusteeship and custodial services.   

Managing Director Adam Nuru is in charge of the company and he may have to make some tough decisions to make the stock attractive to investors.  

The company reported 44.0 billion Naira revenue with Net income of 4 billion and the company reported that profit margin rose 13.16 %.

However, these fantastic result didn’t reflect in the stock price.  FCMB stock continues to plummet and shareholders are losing money.

Ebenezer Onyeagwu appointed as the new GMD/CEO of Zenith Bank of Nigeria

The Nigeria bank industry is going through a revamp. Most banks in Nigeria are struggling to survive due to poor economy and lack of growth. As a result, most banks considered merging with another bank in other to strengthen their balance sheet while other banks seek new leadership.

In Zenith’s case, they appointed a new leader Ebenezer Onyeagwu to lead the bank. His appointment will become effective on June 1st, 2019. Mr. Onyeagwu Ebenezer has over 17 years of professional experience with Zenith bank, he will succeed Mr. Peter Amangbo who is expected to leave the company on May 31, 2019. The salary package was not revealed to the public.

Mr. Onyeagwu served as the Deputy Managing Director of Zenith bank since October 28, 2016. He was appointed Zenith bank’s board members on April 8th, 3019.

Prior to his appointment, Onyeagwu was the Deputy Managing Director of the bank since October 28, 2016 and has close to 30 years cognate banking experience of which 17 years has been with Zenith Bank.

Babajide Sanwo-Olu, the new governor of Lagos State elect spend time with Nigeria Billionaires

Nigeria billionaires gathered to spend time with the New Governor of Lagos state, Nigeria.

These guys will enjoy Lagos more than the rest of us. @aliko_dangotegcon @femiotedola@jidesanwoolu and others. #Dangote#FemiOtedola #Otedola #investment#investing #africa #Nigeria #forteoil