18 January 2013

Nigeria: Dangote Cement, Oando Stocks Become Market Makers

Lagos — The Nigerian Stock Exchange (NSE) has announced the addition of Dangote Cement Plc, Oando Plc and Transnational Corporation of Nigeria Plc to the list of stocks in the market making programme.

The new additions bring the number of stocks that have been rolled out by the initiative to 39.

The inclusion of the three stocks from Industrial Goods, Oil and Gas and Conglomerates sectors becomes effective yesterday.

The addition of the new stocks is in line with the planned phased approach for introducing stocks to the programme, from the baskets allocated to the market makers on the exchange.

The roll period for all the stocks quoted on the exchange is six months. This has been taking place every fortnight since inception on September 18, 2012.

Among the 39 stocks covered by the programme are: PZ Cussons Nigeria Plc; Nigerian Bag Manufacturing Company Plc; Presco Plc; International Breweries; Lafarge Wapco; Fidson Healthcare Plc and Redstar Express Plc.

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