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Courteville set for top 5% on ROI by 2010

Category: Public Offers Private Placements


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Courteville set for top 5% on ROI by 2010

-Eyes international listing

 

Peter OBIORA

Proshare NI

April 05, 2009 at 04:38 GMT

 

 

 

Courteville Investment Plc (Courteville), indigenous business solution provider is set to be amongst the top five percent (5.0%) in terms of Return on Investment (ROI) at the Nigerian Stock Exchange (NSE). Adebola Akindele, Managing Director/Chief Executive Officer (MD/CEO) of the company made this affirmation to Proshare NI at the listing of the company at the NSE in Lagos Nigeria.

 

“By the end of 2010, we shall be in the top 5.0% in terms of Return on Investment at the Nigerian Stock Exchange” he said.

 

Akindele assured investors of the company anywhere in the world that the share price of Courteville would get to its highest level in a not too distance future.

 

“What I can assure Nigerians or investors anywhere in the world is the fact that we started at N2.50 Kobo, this would be a distance memory in terms of value for them very quickly, because it will get to the highest possible outside this” he affirmed.

 

Akindele affirmed that Courteville would be looking at playing in the global level by seeking international listing in the next three to five years.

 

“In the next three to five years, we are going to be play globally and that would give investors outside Nigeria the opportunity of investing in Courteville; rather than buying the shares of Google or Yahoo, Courteville shares would be available outside here” he said.

 

Courteville listed shares worth N7.5 billion on the Stock Exchange. It listed by introduction N2.96 billion Ordinary Shares of 50 Kobo each at N2.50 Kobo per share.

 

This is coming on the heels of a successful   Private Placement (PP), which saw the company raise about N1.3 billion in year 2008.

 

 

Courteville commenced operations in year 2005, when it was given license by Securities and Exchange Commission (SEC) to do business first as a Corporate Business Advisory firm and later diversified into the provision of Electronic Business Solution; which is to make business processes more efficient.

 

The company is presently the biggest player in AutoReg Vehicle Licensing Service in Nigeria with presence in about seven (7) States which include Lagos, Delta, Abia, Anambra, Enugu, Oyo and Oyo States.

 

Akindele affirmed that Courteville would expand its operations by the end of year in at least six (6) new States of the Federation.



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