Lagos joins O’dua group, acquires 115m shares

Businessam StaffMarch 29, 2018

O’dua Investment Group has formally admitted Lagos as one of the investing states, after its forty-two years of galvanizing the economy of states in the western region. The six Governors of the south-west region under the auspices of the Western Nigerian Governors Forum on Wednesday formally admitted Lagos State into the Group. Lagos acquired a […]

Lafarge Africa allots N132bn worth of shares to shareholders

Ajose SehindemiMarch 17, 2018

Lafarge Africa Plc. has announced allotment of its rights issue of 3.098 billion ordinary shares on the basis of five new ordinary shares for every nine ordinary shares held by shareholders. According to allotment paper sighted by business a.m., a total of 3,577 acceptances for 3.098 billion ordinary shares valued at N131.650 were received and […]

Wiese sells more Shoprite stock as Steinhoff extends plunge

Businessam StaffDecember 21, 2017

Steinhoff International Holdings NV’s biggest shareholder, Christo Wiese, increased the amount he has raised from selling shares in food retailer Shoprite Holdings Ltd. to 3.3 billion rand ($259 million) as his net worth continues to slide amid an accounting scandal. Wiese’s liquidation of assets comes as Steinhoff’s stock extended its drop this month to 93 […]

Nigeria’s Flour Mills to raise N39.86bn via rights issue of 1.47bn shares

December 11, 2017

Flour Mills of Nigeria Plc.(FMN) has concluded arrangement to sell 1.47 billion ordinary shares to existing shareholders at N27 per share to generate N39.86 billion at a 21 percent discount. The Nigerian Stock Exchange (NSE) in a statement on Friday, December 8, notified dealing members that FMN has through its stockbrokers, Stanbic IBTC Stockbrokers Limited, […]