LAGOS- Daar Communications Plc has concluded plans to make history as the first broadcast company to be listed on the Nigerian Stock Exchange (NSE).
The company which is the owners of Ray Power FM and African Independent Television (AIT) went public early this year by offering 1,829,478,000 shares of 50 kobo each at N5 per share for public subscription and 9, 60,000,000 shares were offered for sale.
Following the conclusion of the highly successful offer, the shares of the company are to be listed on the NSE today.
Feelers from the stockbrokering community indicate that the Daar Communications’ listing is already creating excitement among investors. Investors are said to be excited especially given the Daar Communication’s plans to add satellite broadcast to its business.
The company, which pioneered private radio broadcast in 1994 with the setting up of Ray Power radio station, later added AIT to its line of business. Daar Communications is now moving a step ahead with the launch of satellite broadcast under a new subsidiary- DAARSAT, a new satellite Direct-To-Home (DTH) Pay TV platform.
The company, which will be commissioned by President Umaru Musa Yar’Adua alongside the Minister of Information and Communication, on October 8, has promised to bring excitement to Nigerians with its rich broadcast content.
The Chairman of Daar Communications Plc, Chief Raymond Dokpesi, recently said that the Pay TV, which comes with a deep Afrocentric orientation that aligns with the traditions of Daar, would be the first satellite Pay TV platform offering service in Nigeria and operating wholly from Nigeria.
This, he said, was based on the group’s belief in the development of the technological manpower in Nigeria to meet the challenges of the 21st century.
It was gathered that over N15 billion investments had been invested in the company in the past few months.
It was gathered that with a strong focus on exceptional customer service management, DaarSAT is conceptualised with a programme bouquet to satisfy the yearnings and aspirations of Nigerians.
Another thing that may easily warm the company into the hearts of consumers is the plan to commence operations with 40 channels that span entertainment, sports, movies, lifestyle, news, fashion and music. A major feature of the new pay TVs is the deliberate choice of the channels to align with the expectation of the Nigerian viewing public.
It is expected that given the track record of Daar Communications, the new baby will win over many customers who have been complaining about one thing or the other especially in terms of the services offered by the existing two firms offering pay TV services in Nigeria.
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