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Petrobras raises $70bn in record share offering

first_img whatsapp whatsapp John Dunne Friday 24 September 2010 2:31 am Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndo Petrobras raises $70bn in record share offering center_img Share More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com Show Comments ▼ Brazilian state oil company Petrobras raised $70bn (£44bn) on Thursday in the world’s biggest share offering, giving the company the financial muscle it needs to tap vast offshore oil reserves.The cash will help fund the world’s largest oil exploration plan, which at $224bn for the 2010-2014 period aims to turn Brazil into a major energy exporter.The Rio de Janeiro-based company sold 1.87 billion new preferred shares at 26.30 reais each, the company said in a regulatory filing. It sold 2.4 billion new common – or voting – shares at 29.65 reais each.Uncertainty that the offering might not come off had brought a prolonged sell-off of Petrobras shares that shaved more than $70 billion off its market value. But the optimism displayed by investors seeking exposure to one of the world’s largest oil finds in recent decades outweighed worries about growing state involvement in the company’s affairs.“The deal priced at a very tight discount, which is comforting to know because the market expected it to price lower,” said Marcio Macedo, who manages about $40 million of stocks for Sao Paulo-based Humaita Investimentos. “After this very successful deal, markets will be in a good tone tomorrow.” Tags: NULLlast_img read more

Cement Company Of Northern Nigeria Plc (CCNN.ng) 2007 Annual Report

first_imgCement Company Of Northern Nigeria Plc (CCNN.ng) listed on the Nigerian Stock Exchange under the Building & Associated sector has released it’s 2007 annual report.For more information about Cement Company Of Northern Nigeria Plc (CCNN.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Cement Company Of Northern Nigeria Plc (CCNN.ng) company page on AfricanFinancials.Document: Cement Company Of Northern Nigeria Plc (CCNN.ng)  2007 annual report.Company ProfileCement Company of Northern Nigeria Plc manufactures and sells cement in Nigeria under the brand name Sokoto Cement. The company produces CEM II type cement which is used by the home building and construction sectors in Nigeria for making cement blocks as well as for plastering and concrete works. CEM II type cement is renowned for its high early strength, rapid setting and low heat of hydration which is ideal for major construction works. The cement brand name is taken from the founder of the company, the Premier of the then Northern Region, Alhaji Sir Ahmadu Bello, Sardauna of Sokoto. It was incorporated in 1962 and started producing cement in 1967 to meet the demand for cement needed for the expansion of Kalambaina Plant. Cement Company of Northern Nigeria Plc was privatised and a member of Heidelberg Cement Group, Scancem International ANS of Norway, was elected core investor and technical partner in 2000. A Nigerian-based firm, Damnaz Cement Company Limited, became the new core investor in 2008 when Heidelberg divested its stake in the business. BUA International Limited acquired Damnaz Cement Company and became the majority shareholder in Cement Company of Nigeria plc and its technical partner. The company’s head office is in Lagos, Nigeria. Cement Company of Northern Nigeria Plc is listed on the Nigerian Stock Exchangelast_img read more