Honeywell Lists N67 Billion Share on NSE
Ralph Tathagata-
Honeywell Flour Mills Nigeria Plc has listed N67 billion share capital on the floor of the Nigerian Stock Exchange. The event witnessed the presence of Stock brokers’ hierarchy, past and present, like Oba Otuteko, former President, NSE; Mr. Musa Elakama, Asst. DG, NSE; and Babatunde Oduayo, MD, Honeywell, among many others.
Addressing newsmen during the listing, Mr. Oduayo says: “We are very grateful for the opportunity given to us to list on the Nigerian Stock Exchange. In line with our Initial Public Offer (IPO) this year, we shall play according to the rules of the market even as we continue to bring innovation and progress in the Nigerian food production sector.”
He also disclosed that the company intends to increase the production of one of its frontline brands, Honeywell Semolina for the role it has been playing in its overall profit.
“The increase in Honeywell Semolina value has added significantly in our company’s profit. In that regard, we have decided to deepen its production in other to maximize profit,” he says.
Oba Otudeko, former President, NSE, believes that as long as the strong commanding heights of the economy are represented at the exchange, the market will get better in no time.
The company’s entire share capital of N67.41 billion was listed on the floor last week Thursday and represented 7.93 ordinary shares of 50 kobo each at N8.50 kobo per share.
