IHS Gets Listing on NSE

IHS Nig. plc has been listed by introduction on the floor of the Nigeria Stock Exchange. This was done last week after the company had undergone pre-listing requirements for listing on the NSE market.
Binos Yaroe, general manager.  Market Operations and IT who represented Dr Ndy Okereke- Onyiuke, director general of the Nigeria Stock Exchange praised IHS for the management’s confidence in the Stock Exchange by listing on the stock market  at a time  when the world economic meltdown is affecting the sector.
Olu Odejimi, the doyen of the Stock Exchange said he recommended IHS because of what the company is doing and said the company will go places. He said further that all over the world that government intervenes in the capital market as it is considered as the barometer which the economy of any nation is measured. He therefore called on the Nigerian government to save the stock market
In his presentation, William Saad said that IHS was established in 2001 and that it specializes in supply, implementation, O&M, site monitoring system and alternative power systems.  The company also has 300 highly qualified employees, 100 well trained contractors, 6 offices and 2 warehouses even as he mentioned that it has most number of sites built by any company numbering 1,400 .He said the company is managing 900 sites in Nigeria making it the largest Telecom infrastructure provider with presence all over the country.
It would be recalled that the company was adjoined Telecom Infrastructure Company  of the Year 2008 by Nigerian Telecom Awards as well as Telecom Infrastructure Provider of the Year 2008  awarded to it by NITTA.
IHS builds base stations across all the geopolitical zones for the major GSM and CDMA operators in Nigeria. The main aspects of the company’s business are telecommunications infrastructure build, telecommunications infrastructure management and infrastructure lease and collocation. The company has been in the forefront of collocation campaign arguing that shared infrastructure will lead to reduction of OPEX, reduction of CAPEX, reduction of acquisition compilation, better compliance with regulator among others.
The company last year went for private placement  on the Stock Exchange at #5 per share and  interestingly too , it is on the initial public offer at the same rate offering 4.4 billion ordinary shares of 50k each at #5 per share.