The Nigerian Stock Exchange listed 4,034,497,260 shares of Afromedia Plc into its Daily Official List on Monday.

By this action, the number of companies listed on the exchange increased to 293.

The shares, categorised under the commercial/services sub-sector, was listed at N2.92 per share. It, however, gained 14 kobo or 4.8 per cent at the end of trading activities to close at N3.06 per share.

Speaking on the plans of the company, the Managing Director, Mr. Akin Olopade, said the company will be undertaking a number of strategic mergers and acquisitions as part of its expansion program.

According to him,”We will apply aggressive mergers and acquisitions strategies across key African countries. We plan to be the biggest out-of-home media company on Africa within the next five years in terms of reach, profitability, quality of products and customer satisfaction.

Olopade promised shareholders improved returns on their investments, noting that it is targeting ranking among the five companies on the NSE in terms of shareholder value, especially in its dividends payout, anticipated share price appreciation and improved asset quality asset.

”We intend to be one of the top five companies in terms of shareholder value through dividends, share appreciation and asset quality. This is because our shareholders are very much key to the development of our company, and we will continue to ensure that great value is added to their investment in our company.”

He stated that already, the company had recorded good results in its financials for the half-year ended June 2009, and that it hoped to surpass its projections before the year end.

Meanwhile, trading on the NSE ended on a bearish note on Monday, with the major indicators closing lower.

The market capitalisation of the 293 listed equities lost N34bn or 0.6 per cent to close at N5.598tn from N5.632tn.

Similarly, the NSE All-Share Index slid by 0.8 per cent or 200.86 basis points, from 24,796.42 to close at 24,595.56.

Conoil Plc led the price gainers‘chart, appreciating by N2.84 to close at N59.74 per share. While Guinness Nigeria Plc followed with a gain of N1.80 to close at N105.80 per share.

Nestle Nigeria Plc, on the other hand, recorded the highest loss for the day, shedding N7.29 to close at N166 per share.

UACN Plc also lost N1.87 to close at N35.61 per share.