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 Posted: Mon Nov 10, 2008 9:53 am Post subject: Aso Savings and Loans Plc Gets Listed on NSE |
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Aso Savings and Loans Plc Gets Listed on NSE
29th April '08
The Aso savings and loans Plc, a mortgage finance firm based in Abuja, has joined the league of quoted companies at the Nigerian Stock Exchange (NSE), as it listed 8.679 billion ordinary shares of 50k at 3.50 naira per share on the exchange.
"The company has undergone several transformation since it became privatised by government in 2006. In over 18 months we have funded over 35 mortgage houses successfully. In order to translate our strategic plans into actions, we decided to get the company shares listed so that we will have access to long-term funding," Hassan Usman, the Company Chief Executive Officer (CEO), told stockbrokers during the listing.
Established in 1995 by the Federal Capital Territory (FCT) in Abuja, the company successfully completed its private placement in 2007 in which it raised about 4 billion naira. With about 10 branches in the FCT, the company boss said more branches will be opened in Lagos, Port Harcourt, Kano and other cities before the end of 2008 as part of its expansion programme.
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