Air Liquide Group, the world leader in gases and technologies, has technically opened up its Nigerian subsidiary to Nigerian investors as Air Liquide Nigeria Plc listed its shares on the NASD OTC, the over-the-counter (OTC) market for trading in securities of unlisted public companies.
The entire issued share capital of Air Liquide was admitted for trading on the OTC. Air Liquide’s issued and fully paid up capital of 180 million ordinary shares of 50 kobo each was listed at a price of N4.89 per share.
Air Liquide Nigeria Plc’s parent company, France’s Air Liquide is listed on the Paris Euronext Stock Exchange and it is a member of the CAC 40 and Dow Jones Euro Stoxx 50 indexes. Air Liquide Group’s revenues totaled € 16.4 billion in 2015, with solutions that protect life and the environment representing more than 40 per cent of sales.
The listing of Air Liquide Nigeria Plc has further raised the profile of the NASD OTC, where other world leaders like Dufil Prima Foods Plc, the manufacturer of Indomie Noodles; Friesland Campina Wamco Nigeria Plc, manufacturer of Peak Milk brand; and Fan Milk Plc, popular manufacturer of Fan Yoghurts are listed.
Established in 1902, the Air Liquide Group is regarded as the world leader in gases, technologies and services for Industry and Health with presence in 80 countries, more than 50,000 employees and more than two million customers and patients. Oxygen, nitrogen and hydrogen have been at the core of the company’s activities since its creation in 1902.
In the West and Central Africa region alone, Air Liquide has presence in 22 countries under a regional office in Accra, Ghana. There are 12 branches in the region including Nigeria, Benin, Burkina Faso, Cameroon, Congo, Côte d’Ivoire, Gabon, Ghana, Madagascar, Mali, Senegal and Togo. Air Liquide’s products and services are also available in Angola, Cape Verde, Central Africa, Gambia, Guinea, Equatorial Guinea, Mauritania, Niger, Democratic Republic of Congo (RDC) and Chad.
Air Liquide Nigeria was incorporated in 1960 as Port Harcourt Gas Producers. It adopted the current name in 1992. With the commissioning of its 38-tons per day gas production plant in 1999, the company repositioned itself as a leader in the production and sales of industrial and medical gases in Nigeria.
Air Liquide Nigeria’s production facilities currently include oxygen re-fill stations in Lagos and Warri, gaseous refilling units for oxygen, nitrogen, argon and argon mixtures in Port Harcourt and acetylene production plants in Lagos and Port Harcourt.
The company’s business profile indicated that it has clients in many different sectors including gas and petrol, mining industry, naval works, beverage industry, agro-alimentary products, pharmaceutical industry, health and craftsmen.
Air Liquide Nigeria produces a large range of products and services including industrial and medical gases, welding and cutting, medical equipment and consumables, hygiene equipment and consumables, fire safety equipment and services.
Other companies listed on the NASD OTC included Industrial & General Insurance Plc, Central Securities Clearing System Plc, the clearing and depository arm of the Nigerian Stock Exchange; Nigeria Mortgage Refinance Company, Jaiz Bank Plc, the Islamic bank; Acorn Petroleum Plc, Arm Life Plc, Afriland Properties Plc, BGL Plc, Consolidated Breweries Plc, Food Concepts Plc, Geo-Fluids Plc, Golden Capital Plc, Niger Delta Exploration & Production Plc, Partnership Investment Company Plc, Resourcery Plc, Riggs Ventures West Africa Plc, Swap Technologies & Telecomms Plc, Vital Products Plc, Fumman Agric Products Industries Plc, Free Range Farm Plc, FAMAD Plc, AG Mortgage Bank and Trustbond Mortgage Bank Plc among others. There are also more than 137 registered traders of participating institutions at the market.