Leadstone Investment and Trust Nigeria Limited have projected to give investors a 25 Kobo and 20 Kobo dividend at the end of the 2010 and 2009 financial year ends respectively; as it plans to list its shares on the floors of the Nigerian Stock Exchange (NSE). Lucky Udochukwu, Chairman/Chief Executive Officer (CEO) of the company confirmed this to Proshare NI today in Lagos Nigeria.
However, no dividend would be given to investors for the 2008 financial year end, but a bonus is likely to go to them. “The market is bonus driven, no matter the amount of dividend, shrewd investors would want an increase in the number of units they are having in a company” Udochukwu said.
He affirms that Leadstone is not raising fresh funds to compete in numbers, but to take investment to the grass-root. “The grass-root people are the people to make the market interesting” he said.
“The best way to make money in the capital market is to take the business idea to the grass root members of the Nigerian society” he noted.
Udochukwu further confirmed to Proshare NI that any investor that buys into the company before the end of the placement would be given a 100 percent allotment.
He also confirmed to Proshare NI that the purpose of the placement is to enable Leadstone Investment raise capital to meet the company’s strategic vision and objective of building a viable business enterprise with interest in different sectors of the economy.
These include the Oil and Gas, Real Estate, Stock broking and a football Academy for football development and marketing of players to both local and foreign clubs.
Leadstone Investment is seeking to raise N1.9 billion by offering to investors 2,000,000,000 ordinary shares of 50 Kobo each at 95 Kobo per share. The placement which has since opened on March 31, 2008 would close May 09, 2008.–ProshareNG
