Nigerian Breweries eyes N600bn rights issue to boost capital

Ibadan, Enugu breweries going renewable on $10m NB Plc, CrossBoundary power supply deal

Joy Agwunobi  Nigerian Breweries Plc, one of the leading companies in the Nigerian brewing industry, is planning to raise up to N600 billion through rights issues. The move, which is intended to tackle the negative impacts of the devaluation of the Naira and high borrowing costs on the company’s financial health, comes as the brewery […]

C&I Leasing seeks NSE’s approval for N32.3bn rights issue

C and I Leasing Plc., is seeking the Nigerian Stock Exchange’s (NSE) approval for a rights issue worth N32.3 billion. NSE in a notification to dealing members Wednesday, stated that the company has submitted an application through its shareholders, CSL stockbrokers Limited. The rights issue entails listing of 539,003,333 ordinary shares of fifty kobo each […]

Nigerian bourse, NSE, lifts trading suspension on Conoil shares


The Nigerian Stock Exchange has lifted the trading suspension placed on the shares of Conoil Plc. The bourse had on Monday placed the suspension as the company was unable to submit its financials for Q1 2018. However, the suspension was lifted under 24 hours following Conoil Plc. submission of its unaudited financial statement for the […]

Union Bank seeks to raise N50bn as rights issue opens

Nigerian lender, Union Bank, opened a rights issue to its shareholders Wednesday, which it said would enable it raise N50 billion ($159 million). It followed approval from regulators, the bank said. The bank, in a statement made available to Businessamlive, said the rights issue would stay opened between September 20 and October 30 and would […]