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Wednesday, 5 December 2018

Lafarge plans Right Issue, awaits Regulatory Approval

One of Nigeria Industrial goods manufacturer Lafarge Africa Plc has provides a notice to the Nigerian Stock Exchange for its proposed right issue to existing shareholders

One of Nigeria Industrial goods manufacturer Lafarge Africa Plc has provides a notice to the Nigerian Stock Exchange for its proposed right issue to existing shareholders. The decision was made after an extraordinary meeting of the company's Board of Directors on December 3rd as per the newsletter.

The right issue is a 10.45 percent discount base on Lafarge's share price as at 3rd of December, 2018. It intend to raise a lump sum of N89.21 billion by making available to existing investors. a Right Issue of N12.00 per share by issuing 6 new shares for every 7 shares held by an investor of the company.

The date of he Right Issue is yet to be known. Lafarge promises to announced the date as soon as it is possible. However, the company awaits regulators to give approval for its Right Issue. Lafarge shares falls by 0.6 to close at 12.8 per share on the flour of the NSE yesterday. The company sold a total of 2.8 million shares on that day. Its total market capitalization is 111 billion naira. 


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