Business
NSL To Get $35m Foreign Investment
Global Emerging Markets, a leading global investment firm based in New York, USA, has concluded arrangement to invest $35 million, about N1.7 billion in the shares of the National Sports Lottery Plc.
Dr. Odunlami Kola-Daisi, Managing Directors, National Sports Lottery (NSL), who stated this recently at the presentation of the company’s facts behind the figures to the dealing members and investing public at the Nigerian Stock Exchange (NSE) in Lagos, said the $35 million equity investment in the NSL represents a legally binding firm commitment by GEM to purchase shares at future share prices over a three year period.
Kola-Daisi noted that GEM’s extensive connections and network in international markets would drive up interest in NSL both in the trading of this company’s shares and the continued internationalisation of the company’s business for the benefit of its esteemed shareholders.
“NSL already has partners who are arguably the best in the world in their respective industries and this partnership with a leading global private equity firm such as GEM authenticates the company’ overall business strategy initiated about two years ago will continue to showcase NSL as the prime destination for foreign investments and innovative business alliances of West Africa”, Kola-Daisi.
He disclosed that the company is planning to embark on the reconstruction of its issued shares by the first quarter of 2010 from six billions units of shares to 600 million which according to him would benefit shareholders in a regular higher dividend.
Kola-Daisi noted that the company would also within the first quarter be inaugurating SMS money transfer, contact money solutions and petroleum situation payment automation to add to its existing services to the public.
He said the company in an effort to expand its activities in various areas in pursuits of the company’s dynamic growth strategy is currently looking at establishing branches in Ghana and Ethiopia.
NSL is an innovative technology-oriented business that owns and operatives a growing network of advanced point of sales terminals and high volumes, secure financial transaction processing infrastructure that serves as payment platform for the national lottery, rending of electronic air time for mobile phones, revenue collections and other electronic payment transactions in Nigeria.
NSL has built up strong partnerships with world renowned institutions such as GTECH Global Services corporation Limited, Ingenico SA, Valucard Nigeria Limited among others.