An unusual volume of Bua Cement Plc was traded in the first ten minutes of intraday trading on Thursday, making it the most traded equity on the Nigerian Stock Exchange at the time with over 50 million units traded valued at more than N2.27 billion.
According to the data available in the live market, all the transactions occurred in less than 1 minute. This volume is more than the total units traded in the last seven trading days.
The trades were conducted in tranches with the highest tranche being 40,087,042 units traded at N45.45 per share, followed by 7,912,958 units equally traded at N45.45 per share.
BUACEMENT is down by N0.50 compared to a closing price of N45.50 on Wednesday.
Total of 27.34 million units of BUACEMENT were traded in the last seven trading days and average of 3.91 million units per day on the floor of the Exchange, buoyed by the 25.02 million units traded on 28 October.
YTD the share price is up by 18.34 per share.
In the nine months ended 30 September 2020, the company grew its revenue to N156.55 billion from N129.43 billion it recorded in the same period in 2019. Similarly, profit after tax for the period grew by over N10 billion to N53.57 billion from N43.25 billion in 2019.
The basic earnings per share stood at N1.58.
About Bua Cement
BUA Group possesses a strong capacity in cement manufacturing with 3 major subsidiaries and plants in Northern and Southern Nigeria as well as a 2 million metric tonnes per annum floating terminal serving niche markets, according to the information on its website. The Group also holds a stake in Damnaz Cement Company Ltd which is the Majority Shareholder in Cement Company of Northern Nigeria. The Group’s plants have the capacity to Provides various grades of cement as required in the local Nigerian markets and meet the highest standard of cement manufacturing.
KALAMBAINA CEMENT COMPANY LIMITED, Sokoto State, Nigeria
1.5million MT (current installed capacity)
2015 – Commences plans to develop a 1.5million MT plant.
2018 – Commissions the 1.5million MT plant. Production begins.
OBU & EDO CEMENT COMPANY LIMITED
Located close to a major north-south highway, our cement plants in Edo State have a combined installed capacity of 3.5 million MT Okpella & Obu, Edo State, Nigeria
3.5 million MT (Current Installed capacity)
1964-Edo Cement Company was incorporated by the State Government and indigenous investors with a production capacity of 400,000 MT.
1997 – Operations halted for rehabilitation.
2008 – BUA Group acquires majority shareholding after it was sold under the Federal Government’s Privatisation policy.
2015 – The 3 million metric tonnes capacity Greenfield Obu Cement plant is completed and production starts at the plant.
2016 – A $600m contract was signed with SINOMA China to add a new line of 3 million metric tonnes. Production to start in H2, 2018.
CEMENT COMPANY OF NORTHERN NIGERIA (CCNN), Sokoto State, Nigeria
500,000 MT (Current Installed Capacity)
KEY INFORMATION
1962 – CCNN was incorporated.
1967 – Commenced production with an initial capacity of 100,000 MT.
1985 – Installed an additional 500,000 MT Production line.
1993 – Listed on the Nigerian Stock Exchange in October.
2010 – Damnaz Cement Company Ltd becomes the majority shareholder in CCNN.
BUA Group owns a stake in Damnaz Cement.
By; Ifunanya Ikueze
