LAGOS - The Nigerian Stock Exchange (NSE) has listed on its daily official list a total of N11.55 billion worth of shares of Charms Plc, an indigenous leader in technology cutting hedge solution provider in electronic cards.
The company which commences operation about 23 years ago was quoted on the exchange Tuesday this week, at a unit price of N2.50 per share even as it had its 4.620 billion of it total share structure listed in the day.
This singular action would further enable investors to buy from the shares of the company from the secondary market while transaction on the shares would now be on a daily basis. A total of 26.389 million of the company shares valued N69.14 million where traded on the floor of the exchange yesterday just as it at N2.62.
The company had earlier had a successful private placement of N2 billion which was over subscribed to the tune of 1000 percent.
Speaking at the listing yesterday the Managing Director Mr. Demola Aladekomo said the vision of the company is to be a leading provider of innovative technologies that would improve the quality of life while creating value for all its stakeholders.
He said investors who buys into the company now will take part in the profit after tax of N2.5 billion, earning per share of 67 kobo and 25 kobo dividend that had earlier earmarked for the 2008 financial year end.
He said as a way of improving returns to shareholders the company aimed to secure 60 percent of national projects that relates to its field of operation in the country before the financial end 2008.
According to him, the company plans to build the biggest cybercafé and cards personalization identification system in the world while deploying 50,000 point of sales (POS) terminals that would serve banking operations and other consumer transaction in the country.
On the company’s forecast, Demola explained that the company aimed to achieve a profit after tax of N8.9 billion, earning per share of 239 kobo and dividend per of 65 kobo by the financial year end 2010.
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