By Alex C
The Nigerian Stock Exchange (NSE) is to set to list the shares of Notore Chemical Industries Limited. The NSE has listed Seplat Petroleum Development Company Plc and Caverton Offshore Services Group Plc so far this 2014. Reports reveal that Notore has formerly applied to the NSE preparatory to its listing.
The company had since 2012 disclosed its intention to be quoted on the NSE. However, nothing happened in that regard the whole of last year. It is believed that the listing of Notore would give investors opportunity to diversify their investment in another area of agric business.
Notore, which is an agro-allied and chemical company, is owned by a consortium of private and foreign institutional investors. The company is currently championing the African green revolution by supporting local food production on the continent.
The company was established in 2005 after the acquisition of the liquidated assets of National Fertiliser Company of Nigeria (NAFCON) by the Bureau of Public Enterprises (BPE).
In recent past, Notore received commendation from the Minister of Agriculture, Dr. Akinwumi Adesina, for its major role in the federal government’s efforts to transform the agric sector and become the mainstay of the nation’s economy.
Notore fertiliser plant is said to be the only urea fertiliser plant in sub-Saharan Africa, thus making the firm perfectly positioned to become Africa’s major fertiliser supplier.
The company has successful penetrated into the Nigerian fertiliser market by establishing an efficient nationwide distribution and sales network that is supplying fertiliser directly to Nigerian farmers.