March 06, 2007/Zenith Securities Limited
The Nigerian Stock Exchange today lifted the technical suspension placed on National Salt Company of Nigeria Plc (NASCON) following the conclusion of their issuing by wayofplacing. At the end of theplacement,2,127,908,648 additional shares were added to the shares outstanding of NASCON at N5.00. This brings to 2,207,865,315 the total number of shares outstanding in the company.
Recall that a couple of weeks ago Dangote Salt (one of the divisions of Dangote Industries Ltd) was wound down and its assets and liability transfered to NASCON, this implies that the old Dangote Salt would now be part of NASCON. Trading therefore resumed on the stock today.