HBM Nigeria Plc has announced a change in its trading symbol on the Nigerian Exchange (NGX) from WAPCO to HBMNG. This development, disclosed on July 13, 2026, by Company Secretary and Legal Director, Adewunmi Alode, marks another significant step in the company's transition from its former identity as Lafarge Africa Plc.
The new trading symbol, HBMNG, has replaced WAPCO on the NGX trading floor. The company assured investors that shares currently held through stockbroking platforms and investment accounts will automatically reflect under the new symbol without requiring any action from shareholders.
Corporate Evolution and Acquisition
The symbol change comes weeks after HBM Nigeria Plc received approval from the Corporate Affairs Commission (CAC) to officially change its name from Lafarge Africa Plc. Shareholders had previously approved the name change during the Annual General Meeting held on April 30, 2026.
This rebranding follows the reported completion of a $1 billion acquisition of the cement manufacturer by Chinese investors, a transaction that significantly altered the company’s ownership structure. The company, originally established as West Africa Portland Cement Company (WAPCO), has undergone several identity shifts.
It adopted the name Lafarge Cement WAPCO Nigeria Plc after Lafarge acquired Blue Circle Industries. In 2014, following the merger of Lafarge and Holcim’s African operations, shareholders approved a corporate restructuring that led to the adoption of the Lafarge Africa Plc brand.
Strong Financial Performance
The latest transition is viewed by industry analysts as part of a broader strategy to reposition the company for its next phase of growth and strengthen its competitiveness in Nigeria’s cement and building materials sector. This rebranding effort is underpinned by a strong financial year for the cement manufacturer.
For the 2025 financial year, HBM Nigeria reported a revenue of N1.1 trillion, representing a 53% increase from N696.8 billion recorded in 2024. Profit after tax surged by 173% to N273 billion, driven by higher sales volumes, improved plant stability, cost optimization initiatives, stronger distribution efficiency, and effective financial management.
Operating profit more than doubled during the period, rising to N392 billion, while earnings per share increased from N6.22 to N17. The company’s robust earnings performance provides a solid backdrop as it embarks on this new phase under the HBM Nigeria brand and trading symbol.
