Economics - West Africa - Nigeria - Trade - Technology
Nigeria Stock Exchange lists OMATEK computer assembly plant
OMATEK lists 1.5 million ordinary shares
Nigeria’s first computer assembly plant, Omatek Nigeria Limited, has joined the league of quoted companies at the Nigerian Stock Exchange (NSE), with its listing of 1.5 billion ordinary shares of 50k each at 4.90 naira per share valued at 7.4 billion naira (118 naira=US$1).

The company has also become the first computer firm to be listed on the exchange.

Analysts said the listing would help the company to raise funds to finish its Complete Knocked Down (CKD) factory and meet the growing demand for its products in Nigeria and across Africa.

"The projection of our production is about minimum of 300 per day. We are hoping to get that with the new funding, because the raw materials for computer is not cheap," the Group Managing Director of the Company, Ms. Florence Seriki, explained at the listing.

"We have not had much funding for a long time. With the new funding here we would be able to spread, get money enough to buy raw materials from the right channels to sustain the quality we had," she added.

Since its establishment 21 years ago, the company has recorded a string of successes.

In 1991, it became a premium partner with the major foreign brands, and two years later it set up its first locally-assembled, completely knocked down factory in Nigeria and Ghana. Panapress .


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