Efforts by Nigerian Capital Market regulators to encourage indigenous firms list their shares on The Exchange, has yielded more results with the listing of the shares of Computer Warehouse Group (CWG) Plc on Friday November 15, 2013 on the daily official list of The Nigerian Stock Exchange (NGSE).
With a seed capital of about N160,000 in 1992, the company received a valuation of N6.97billion in 2009 from Vetiva Capital for its private placement and the issue was oversubscribed with Private Equity firm Aureos Capital LLC taking up a major chunk, defying the depressed atmosphere of the global economic recession at that time.
CWG seems to be on track to repeat this feat on its listing, at a target share price of N5.48 -just about doubling its private placement price of N3.40 in 2009 albeit in a very challenging environment characterised by significant slowdown in global economic progression.
