HBM Nigeria completes NGX symbol change to HBMNG

Investors tracking Nigeria’s cement sector will now find HBM Nigeria Plc trading under the new symbol HBMNG, following its transition from Lafarge Africa Plc.

The Nigerian Exchange (NGX) confirmed the change in a notice signed by Company Secretary and Legal Director, Adewunmi Alode, marking another milestone in the company’s rebranding process.

The new ticker replaces WAPCO, a symbol that had been associated with the company since its early days as West Africa Portland Cement Company. The change comes weeks after the Corporate Affairs Commission (CAC) approved the company’s new corporate identity, aligning with its $1 billion acquisition by Chinese investors.

HBM assured shareholders that their holdings will automatically reflect under the new symbol without requiring any action. Management described the move as part of a wider rebranding programme designed to align the business with its evolving ownership structure and strategic direction.

The company’s history of rebranding reflects its changing corporate trajectory. From WAPCO to Lafarge Cement WAPCO Nigeria Plc, then Lafarge Africa Plc in 2014 after the Lafarge-Holcim merger, and now HBM Nigeria Plc, each transition has marked a new phase of growth and market positioning.

Industry analysts view the latest change as a strategic step to strengthen competitiveness in Nigeria’s cement and building materials sector.

The rebranding comes on the back of a strong financial year. For 2025, HBM Nigeria reported ₦1.1 trillion in revenue, a 53 per cent increase from ₦696.8 billion in 2024. Profit after tax surged 173 per cent to ₦273 billion, while operating profit more than doubled to ₦392 billion. Earnings per share rose from ₦6.22 to ₦17, underscoring improved plant stability, cost optimisation, and stronger distribution efficiency.

For investors, the new identity and trading symbol provide a fresh backdrop to a company already delivering record earnings. With its stronger balance sheet and renewed brand, HBM Nigeria is positioning itself for sustained growth in Nigeria’s competitive cement market.