Notore Chemical Industries Plc.
Listing by Introduction on the Mainboard of The NSE.
Deal Description:
Notore is a vertically integrated agro-allied and chemicals business with its main operations in Onne (near Port Harcourt), Rivers State in South-South Nigeria. Notore was established in 2005 to acquire the core assets of the National Fertilizer Company of Nigeria (“NAFCON”) and its core business is the production and sale of fertilizer products, which is traded locally (within Nigeria) and exported to West Africa, Southern Africa and Europe. The Company also maintains Power, Foods and Seeds sales/distribution operations.
The Company operates from its Onne Complex located within the Notore Chemical Industries Free Zone, which provides significant tax benefits and advanced logistics solutions for international distribution of products supported by an onsite jetty to berth large vessels. Notore intends to optimize the Onne Fertiliser Plant via a scheduled turnaround maintenance in 2019 and also commence construction of a second fertilizer and petrochemicals plant in the medium term, enabling Notore maximize its competitive access to gas supply, free zone developer status, strong distribution channels and available land mass. FBNQuest Merchant Bank was appointed as the Lead Financial Adviser and FBNQuest Securities as the Lead Stockbrocker to Notore for the Listing of 100% of the issued and paid-up ordinary shares of Notore on the Main Board of The Nigerian Stock Exchange. The transaction was initiated to promote better liquidity of Notore’s ordinary shares in the secondary market; to provide access to long term capital from a wide range of local and international investors when required and to support the Nigerian Government’s effort to deepen the capital market and most importantly, grant Nigerians the opportunity to participate in Notore’s growth story.
