Chairman of Daar Communications, Raymond
Dokpesi, says the company's initial public offer
will open on February 25.
Daar Communications, owners of African
Independent Television (AIT) and Raypower
100.5 FM stations, recently announced plans
to raise N13.5 billion through the capital
market.
The media giant will offer 1.829,478,000
shares of 50k at N5 per unit. The company will
also offer another 9.6 billion shares belonging
to existing shareholders.
Speaking at the company's business forum in
Lagos, the Executive Chairman said that the
offer is to allow Nigerians the opportunity to be
part of the expansion and the improved content
of the media conglomerate.
According to Dokpesi ``Nigerians should
endeavour to take part in the ownership of the
company that is theirs already," On the
company's profitability profile, Dokpesi said
that Daar profit appreciated to N25 billion in
2007 when compared with N3 billion recorded
in 2002. He said that the company suffered
losses between 2002 and 2003 `due to political
persecution'.
The Chairman also commended President
Musa Yar`Adua for approving the extension of
AIT TV and Ray Power signals across the
nation. According to him, Yar'Adua's approval
showed his commitment and encouragement of
the complementary role of private initiative in
growing the nation's economy.
In his message, the Director-General of Voice of
Nigeria, Alhaji Abubakar Jijiwa commended
Daar Communications for opening another
chapter in the history of the nation's media
industry. Jijiwa, who is also the President the
Broadcasting Organisation of Nigeria (BON),
said that member stations have accepted a 25
per cent reduction in advertisement for the Daar
Communications public offering.
We are in full support of Daar Communications
voyage into the capital Market because they
are only celebrating the broadcast industry,"
Jijiwa said.
The Present of the Nigerian Shareholders
Solidarity of Association (NSSA), Mr Timothy
Adesinyan, commended Dokpesi for
appreciating the value of listing a company on
the stock exchange. "To us in the association,
we see the scheduled offer as Dokpesi's
birthday gift to Nigerians," he said.

A nairalander asked a question on this thread www.nairaland.com/796489/ait-shares-it-all-making

My question is have investors gotten certificates? have investors gotten Dividends? a lot of things needs to be investigated. This offer was made 7yrs ago.

My brother, this is exactly the same question I asked myself few days ago.

I bought dear shares till date no certificate and no dividends.
It's all scam!
#WhereIsMyDaarShareCertificate

Nigeria Stock Exchange, Securities and Exchange Commission should better do something about this because I think Daar Communications PLC is now making so much money now considering the fact that they are very big. Let them start to issue certificates and pay dividends