The Nigerian Stock Exchange on Tuesday, listed the entire 4,620,600,000 ordinary shares of Chams Nigeria plc in its Daily Official List on the floor of the Nigerian Stock Exchange.

The shares had been offered at the rate of N2.50 kobo per share during a private placement earlier embarked upon by the company in January this year.
Speaking on the introduction, Olu Odejimi, Doyen of stockbrokers who is also the stockbroker to the firm said the listing of the company was a follow up of the private placement which held in January, 2008.
He said that the competence of the management of the company resulted in the oversubscription of the offer by 1000 percent and increased the company’s shares to 775 million shares.

Introducing the shares to stock brokers on the floor of the market, Demola Aladekomo, managing director and chief executive officer of the company said Chams which stands for computer hardware and maintenance service representing the services provided by the company was registered in 1985 in response to the opportunities in the market place.
Aladekomo said that its vision is to provide innovative technology and effective maintenance of information technology facilities that is competitive worldwide in Nigeria.

He further stated that the company’s innovation in the IT business includes research and development in smart card technology amongst others which has earned it various projects like the national identity card where it issued one million cards for the government.

According to him, the company has also been involved in producing electronically 70 million voters card in eight weeks, the National Health Insurance Scheme (NHIS) cards, INEC and national identity management projects.
While the company is exploring opportunities in other parts of Africa, the Aladekomo said, it currently prides itself with the biggest card producing plant in the world it has here in Nigeria.

The managing director also stated that the company’s profit projections for 2008 is estimated at N2.5 billion, earnings per share (EPS) of 67 kobo and dividend of 25 kobo per share while for 2009, it expects a net profit of N4.5 billion, EPS of 67k and a dividend of 45 k per share.
He also stated the Chams hope of becoming the top 10 company on the NSE by the end of 2009.
The company hopes to provide 50,000 point of sales terminals for banks in Nigeria by 2009 and is already designing the first ever mobile phone designed in Nigeria with the local peculiarities in mind.