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Ibeto Cement Firm Set For Listing In US Stock Market - Business - Nairaland

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The Sins Of IBETO Cement Company, And Dangotes Effect / After Failed Unity Bank Deal, Milost Global Settles For Ibeto Cement With $850m / They Shutdown Ibeto Cement Owned By Igbo Man For Dangote To Dominate (2) (3) (4)

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Ibeto Cement Firm Set For Listing In US Stock Market by Anambralstson: 5:41pm On Jun 05, 2018
Ibeto Cement Company Limited has announced a historic reverse merger through its acquisition of Century Petroleum Corporation, a United States (U.S.) publicly-traded petroleum exploration and production company.A statement by the firm stated that it had acquired 70 per cent control of Century Petroleum Corporation resulting in the reverse merging of Ibeto Cement’s assets into Century Petroleum.

By this reverse merger, which is expected to be sealed and publicly presented in 90 days, Ibeto Cement will achieve the historic milestone of being the first Nigerian firm to be listed in the U.S. Stock Exchange. Dr. Cletus M. Ibeto, who had already taken over as Chairman of the Board of Directors, said: “It has been a long journey since I have been in business and none of our companies or businesses has gone public so far. In line with our collective dreams to place Nigeria in its rightful place in the comity of nations, we had to come up with a strategy to build a formidable structure for companies that will outlive me.”
He lauded stakeholders in the historic merger, including the government, shareholders, investors, and the larger Nigerian society for this landmark development, which will improve the level of actualisation of the huge cement business opportunities around Africa.

“Everybody knows that Ibeto Group has billions of dollar investments in Nigeria; but the time has come to replicate the successes we have enjoyed in Africa and globally. Century Petroleum Corporation is the vehicle for using our wealth of experience for the benefit of people within and beyond Africa.

“We will use it as a catalyst of empowerment for all Nigerians the world over as the company’s shares will be traded internationally,” he further said.Meanwhile, analysts believe that as chairman of the new global entity, Ibeto’s success record and vast experience in weathering the storms and growing businesses from scratch in developing economies will aid the actualisation of Nigeria’s potential of exporting cement to other sub-Saharan African countries.

Ibeto Cement Company Limited, located in BunduAma, Port Harcourt, Rivers State, began cement bagging operations at its bagging terminal in Port Harcourt in 2005. It is an ultra-modern bagging plant with a flat-storage capacity of 50,000 metric tonnes and a production capacity of 1,500,000 metric tonnes yearly, which translates to a production capacity of 4,000+ metric tonnes per day.

And in line with the Nigerian Backward Integration Policy (BIP) on cement and in response to the Federal Government’s call to increase local production of cement, Ibeto Cement Company Limited acquired the premier Nigeria Cement Company Limited (Nigercem), which has a plant located in Nkalagu, Ebonyi State. The strategic acquisition of Nigercem is aimed at expediting Ibeto Cement’s local production of cement by resuscitating the Nigercem plant and developing the project as a brand new dry process plant. The Company is also developing another 6,000 metric tonnes per day cement plant at Cross River State/Abia State of Nigeria.
https://t.guardian.ng/news/ibeto-cement-firm-reverses-merger-decision-set-for-listing-in-u-s/
Lalasticlala

26 Likes 3 Shares

Re: Ibeto Cement Firm Set For Listing In US Stock Market by tommykiwi(m): 7:41am On Jun 06, 2018
Good one from Ibeto groups.

15 Likes 1 Share

Re: Ibeto Cement Firm Set For Listing In US Stock Market by Harmored(m): 7:41am On Jun 06, 2018
cool

5 Likes 2 Shares

Re: Ibeto Cement Firm Set For Listing In US Stock Market by 1bunne4lif(m): 7:42am On Jun 06, 2018
good
Re: Ibeto Cement Firm Set For Listing In US Stock Market by CHANNELStv2020: 7:42am On Jun 06, 2018
THE MORE THEY TRY TO DESTROY THE IGBOS THE MORE THEY EXPAND N SUCCEED.

64 Likes 6 Shares

Re: Ibeto Cement Firm Set For Listing In US Stock Market by alpamo6: 7:42am On Jun 06, 2018
Good
Re: Ibeto Cement Firm Set For Listing In US Stock Market by Edu3Again: 7:43am On Jun 06, 2018

35 Likes 3 Shares

Re: Ibeto Cement Firm Set For Listing In US Stock Market by mybestlove(m): 7:43am On Jun 06, 2018
Weldon bro. Because of Dangote they frustrated you here in Nigeria. But, when one door closes another opens.
I don't see greatness in Dangote at all. He is enjoying opportunities which given to any dummy, it must excel. Let government give me the monopoly Dangote is enjoying and I'll enter world richest men list.

Ibeto, Weldon jare. Commodities will be banned and only one man will be allowed to trade them and he'll be claiming hard work.

Success is beating competition

86 Likes 3 Shares

Re: Ibeto Cement Firm Set For Listing In US Stock Market by justy15: 7:45am On Jun 06, 2018
Need a landed property in Abakaliki, call 07086770689. Abakaliki is one of the fastest growing state in the southeast because of the Governor's developmental strides

1 Like

Re: Ibeto Cement Firm Set For Listing In US Stock Market by EasterDell: 7:45am On Jun 06, 2018
Brilliant!
Re: Ibeto Cement Firm Set For Listing In US Stock Market by Nobody: 7:46am On Jun 06, 2018
You think you can marginalize Igbos? The Jews of Africa as cited by US government? Ambode, if you like exhaust your little afonja energy trying to strangle those Igbos transport companies in Lagos. You seized their buses for 3 months after imposing wicked 35% duty? After they have developed and built their stations and offices, developing every street they have their stops at, as usual with you people, you come and take over it without compensation, chasing them to another undeveloped area to develop for you people, so that you can come back again after 5 yrs to chase them again to another undeveloped area. SMH! You are wasting your energy. Before you know, they have expanded across Africa. Its you Afonjas that will suffer.

55 Likes 3 Shares

Re: Ibeto Cement Firm Set For Listing In US Stock Market by hopeforcharles(m): 7:47am On Jun 06, 2018
Good development we need more exposure, we have the capability but surprisingly we are not utilising it

1 Like 1 Share

Re: Ibeto Cement Firm Set For Listing In US Stock Market by MemphisRaynes: 7:47am On Jun 06, 2018
5 percentiles.

1 Like

Re: Ibeto Cement Firm Set For Listing In US Stock Market by ASPchris(m): 7:47am On Jun 06, 2018
Ibeto is a lion with many life , Many government have tried to crush this guy but he survives it. His last casualty was during Obasanj time. if Dangote pass through what Ibeto passed through in the hands of Nigeria government he will never survive it.

51 Likes 5 Shares

Re: Ibeto Cement Firm Set For Listing In US Stock Market by NotNairalandi(m): 7:47am On Jun 06, 2018
Igbo Amaka!

32 Likes 1 Share

Re: Ibeto Cement Firm Set For Listing In US Stock Market by princechurchill(m): 7:48am On Jun 06, 2018
Obasanjo in all his wickedness tried but failed

26 Likes 1 Share

Re: Ibeto Cement Firm Set For Listing In US Stock Market by lonelydora: 7:48am On Jun 06, 2018
Dr. Cletus nwanne....jisike na oru!


Because of Dangote FG tried to frustrate you. They forgot that he whom God has blessed no one can curse. Dangote wouldn't have seen your back in Cement business if not for Obasanjo.

At least, US provide a level playing field for all.

Ride on nwa afo Igbo. We are all behind you

42 Likes 1 Share

Re: Ibeto Cement Firm Set For Listing In US Stock Market by ikept(m): 7:49am On Jun 06, 2018
A real business guru.

15 Likes 1 Share

Re: Ibeto Cement Firm Set For Listing In US Stock Market by lonelydora: 7:50am On Jun 06, 2018
Harmored:
cool

you are not serious
Re: Ibeto Cement Firm Set For Listing In US Stock Market by SalamRushdie: 7:51am On Jun 06, 2018
Hmm
Re: Ibeto Cement Firm Set For Listing In US Stock Market by Cowbuhari: 7:51am On Jun 06, 2018
cheesy

igbo amaka!! igbo kwenue!!!

not one hausa man laundering politicians money and be claiming richest man in africa grin

give ibeto half of the incentives govt upon govt have being giving to dangote and see if he wont be up there with bill gates and co


ndi awusa na afonja stay off my mentions grin grin


proudly 5%

26 Likes 3 Shares

Re: Ibeto Cement Firm Set For Listing In US Stock Market by Nobody: 7:53am On Jun 06, 2018
nice. At least in the US, he can do business with no one making policies against him because of his tribe.

Meanwhile, analysts believe that as chairman of the new global entity, Ibeto’s success record and vast experience in weathering the storms and growing businesses from scratch in developing economies will aid the actualisation of Nigeria’s potential of exporting cement to other sub-Saharan African countries.

You don't mean it. The rejected stone is now the chief cornerstone. The cement bagger that was witch hunted and frustrated by successive governments starting from obasanjo, is now hoped upon to help export Nigerian cement? Unbelievable!

Obasanjo that frustrated Ibeto the most is currently struggling to ensure that a man, who will definitely come for him and his generations, doesn't get the chance to. he has turned from being the hunter into being the hunted.

The God of the Igbos shall continue being my God!



The Igbo: those who tried to terminate you are currently not living better than you. They are even terminating each other now. Those who frustrate you end up frustrated. He who blesses you remains blessed and he that curseth you, remains cursed.

28 Likes 3 Shares

Re: Ibeto Cement Firm Set For Listing In US Stock Market by Nobody: 7:55am On Jun 06, 2018
Ọ mpaạ!! Kulụ Ị-yị nị-ihụ

1 Like 1 Share

Re: Ibeto Cement Firm Set For Listing In US Stock Market by SLIDEwaxie(m): 7:59am On Jun 06, 2018
Lol, victim mentality is real like kilode!!

And funny, it's a mental disorder. grin grin

And I heard it's hereditary...

I pity those marrying from these psychos.

*Note that I didn't mention name or tribe o. Anyone who mention me is confirming that he/she is mentally disturbed with this disorder and mmis unfortunate*

Period

8 Likes

Re: Ibeto Cement Firm Set For Listing In US Stock Market by pastorcyrus(m): 8:05am On Jun 06, 2018
Anambralstson:
Ibeto Cement Company Limited has announced a historic reverse merger through its acquisition of Century Petroleum Corporation, a United States (U.S.) publicly-traded petroleum exploration and production company.A statement by the firm stated that it had acquired 70 per cent control of Century Petroleum Corporation resulting in the reverse merging of Ibeto Cement’s assets into Century Petroleum.

By this reverse merger, which is expected to be sealed and publicly presented in 90 days, Ibeto Cement will achieve the historic milestone of being the first Nigerian firm to be listed in the U.S. Stock Exchange. Dr. Cletus M. Ibeto, who had already taken over as Chairman of the Board of Directors, said: “It has been a long journey since I have been in business and none of our companies or businesses has gone public so far. In line with our collective dreams to place Nigeria in its rightful place in the comity of nations, we had to come up with a strategy to build a formidable structure for companies that will outlive me.”
He lauded stakeholders in the historic merger, including the government, shareholders, investors, and the larger Nigerian society for this landmark development, which will improve the level of actualisation of the huge cement business opportunities around Africa.

“Everybody knows that Ibeto Group has billions of dollar investments in Nigeria; but the time has come to replicate the successes we have enjoyed in Africa and globally. Century Petroleum Corporation is the vehicle for using our wealth of experience for the benefit of people within and beyond Africa.

“We will use it as a catalyst of empowerment for all Nigerians the world over as the company’s shares will be traded internationally,” he further said.Meanwhile, analysts believe that as chairman of the new global entity, Ibeto’s success record and vast experience in weathering the storms and growing businesses from scratch in developing economies will aid the actualisation of Nigeria’s potential of exporting cement to other sub-Saharan African countries.

Ibeto Cement Company Limited, located in BunduAma, Port Harcourt, Rivers State, began cement bagging operations at its bagging terminal in Port Harcourt in 2005. It is an ultra-modern bagging plant with a flat-storage capacity of 50,000 metric tonnes and a production capacity of 1,500,000 metric tonnes yearly, which translates to a production capacity of 4,000+ metric tonnes per day.

And in line with the Nigerian Backward Integration Policy (BIP) on cement and in response to the Federal Government’s call to increase local production of cement, Ibeto Cement Company Limited acquired the premier Nigeria Cement Company Limited (Nigercem), which has a plant located in Nkalagu, Ebonyi State. The strategic acquisition of Nigercem is aimed at expediting Ibeto Cement’s local production of cement by resuscitating the Nigercem plant and developing the project as a brand new dry process plant. The Company is also developing another 6,000 metric tonnes per day cement plant at Cross River State/Abia State of Nigeria.
https://t.guardian.ng/news/ibeto-cement-firm-reverses-merger-decision-set-for-listing-in-u-s/
Lalasticlala
Oluwa oshe,I vow,when I die,I reincarnate in Igbo,the golden tribe of Nigeria

14 Likes 1 Share

Re: Ibeto Cement Firm Set For Listing In US Stock Market by kirkwood: 8:07am On Jun 06, 2018
See, this is not about tribal sentiment. It's about businesses finding creative ways of succeeding and expanding against a hostile environment.
Nigerian companies must learn to compete globally, if we are to take Nigerian products seriously.

Imagine how much credibility Aba products would get if they partner or expand into the major countries of the world.

Whether you're struggling or not, just remember there are many ways you can explore to get out of your problems.

You just have to review your strategies.

Don't give up that quick.

3 Likes

Re: Ibeto Cement Firm Set For Listing In US Stock Market by Dreadful: 8:07am On Jun 06, 2018
Our father who art in Heaven hallow be thine name! Satan has never succeeded against God. Nigeria shall be destroyed for trying to destroy the Igbos.

8 Likes

Re: Ibeto Cement Firm Set For Listing In US Stock Market by amazon14: 8:11am On Jun 06, 2018
Igbos can never be destroyed, the harder their enemies tries the more they progress.

Ibeto ride on chukwu okike abiama is with you.

13 Likes 1 Share

Re: Ibeto Cement Firm Set For Listing In US Stock Market by freeze001(f): 8:16am On Jun 06, 2018
This is excellent news. I believe that by the innate capacity to excel vested in the Igbo man and the guiding hands of our Lord, Chukwu Okike bi n'igwe, this venture will ride from glory to glory!

God bless my homeland, ala-Igbo.

13 Likes 1 Share

Re: Ibeto Cement Firm Set For Listing In US Stock Market by Yoshy: 8:21am On Jun 06, 2018
I'm Igbo, though the accusations are real, but f*CK it. We should really learn to not make noise and work more guys. No time for all these victimisation shit, we hv been talking about it yet I see no results. Let's do and not make noise. Ibeto is doing it, my dear Igbo bro/sis what are you doing legitimately to leave a legacy that will live beyond you? I don't mean your real estate in the village and festac. Will your business survive many years after you're gone? Or die a natural death immediately you're not able to carry it along.

That's the beauty of American businesses, sustainability and THINKING BIG (this does not mean your micro empire).

Let's help humanity and stop all this complaints, pouring salt to old wound does not help.

7 Likes

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