C & I Leasing targets more funds for expansion

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Emeka Ndu

C & I Leasing Plc has indicated interest to raise fresh capital that will aid the company growth plan, Managing Director of the company, Mr Emeka Ndu disclosed this when the company management team paid a courtesy visit to the Nigerian Stock Exchange (NSE) and rang the closing gong yesterday.

Mr Ndu who said the company is in the process of raising bond, did not disclose the amount they intend to raise, because their financial adviser are still in the process of book building.

He assured stockbrokers that the company would continue to sustain its culture of adding value to shareholders investments. Adding that they are planning to come and present a facts behind the figures to the investing public very soon.

Stressing that the visit to the Exchange was to deepening their relationship with the stock market. On the company proposed merger with its subsidiary C & I Motors Limited, Ndu said it was a tough decision to rationalise operations due to volatility in economy. Meanwhile the company had appointed Cordros Capital Limited as their liaison stockbrokers in respect of the proposed corporate restructuring.

Still selling at 50 kobo, C & I Leasing had been able to put smile in the faces of shareholders with the 8 kobo dividend that was paid in its 2014 financial year, which represent 50 percent rise from 4 kobo that was paid in 2013.

The company was incorporated in 1990 as a limited liability Company, licensed by the Central bank of Nigeria (CBN) to offer operating and finance leases and other ancillary services, the Company commenced full operations in 1991. With a current market capitalization base of over N12 billion approximately $100 million, and operational offices in key locations in Nigeria and Ghana.

They provides specialized services, in Marine, Telecommunications, Oil and Gas, Equipment Rentals, Manpower Outsourcing and Transportation.

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