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Swap Technologies set for listing

Swap Technologies and Telecomms Limited has said that plans are underway for it to list its shares on the floor of the Nigerian Stock Exchange.

The company will be listing its shares to raise the needed funds for expansion projects, aimed at boosting it’s capital and making it a major player in the telecoms industry.

A statement by the company on Saturday said that the company, which was currently undergoing a private placement, sought to be one of the leading and profitable telecoms companies in the next few years.

According to the statement, “The company, which is a leader in the telecommunication infrastructure business in Nigeria, is expected to seek listing on the NSE after concluding the placement. It will be one of the first in that sector on the NSE, as, presently, no company in the telecoms sector is listed.”

It stated that the company had great plans for expansion, and hoped that its shares would be the toast of investors after the listing.

“The company, which has been able to establish itself as a key player in the business of importation of telecom infrastructure equipment, is pursuing some major acquisitions operation in the Mobile Virtual Network,” the statement said.

This, it said, would consolidate its leadership position in the sector and fully realise its vision of becoming one of the top five quoted conglomerates in Nigeria by 2011.—Punch

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