Nigerian oil hub Ladol looks to raise capital to expand facilities
The family-owned logistics hub for the offshore oil industry backs restructuring at the Nigerian Stock Exchange
Lagos — Ladol, a logistics hub for the offshore oil industry in Lagos, Nigeria, is mulling a stock market listing and corporate bonds to expand its facilities and attract more business from large production companies. Family-owned Ladol, where Samsung Heavy Industries is completing the construction of one of the world’s largest floating rigs for Total SA, will look to raise capital over the next two years, says its MD. "We are very open" to tapping public equity and debt markets, Amy Jadesimi said, without disclosing how much she wanted to issue. "The Nigerian Stock Exchange has done a lot to restructure in the past few years to make themselves attractive to a company like ours, so we will definitely consider that. We will consider listing on the bond market too." Ladol aims to build more infrastructure on its roughly 100ha free trade zone on an island across Apapa, Lagos’s main port. Total’s $4bn Egina floating production, storage and offloading vessel is docked at Ladol. Construct...