Acquisition of Mobil‘ll raise investors’ confidence in capital market

Acquisition of Mobil‘ll raise investors’ confidence in capital market

The Chief Executive Officer, Nigerian Stock Exchange (NSE) Mr. Oscar Onyema,  has expressed confidence in NIPCO’s ability to ensure continuous investors’ interest in the capital market following its 60 per cent stake acquisition in Mobil Oil Nigeria (MON), The Nation reports.

Onyema who gave the assurance during a courtesy visit with its management team to NIPCO’s office in Apapa, Lagos described the deal as one of the largest acquisitions in the downstream sector. He said the strategic acquisition will enhance the company’s continuous growth and expansion as well as add increased value to investors and other stakeholders in the country.

The NSE CEO said NIPCO, as a critical stakeholder, needed all the support with various initiatives and opportunities available via the capital market to enable it excel in the sector. According to him, NIPCO’s 60 per cent stake acquisition in MON was a great development for the industry and indeed a  great achievement  for a Nigerian owned investment company.

 

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