Next month, Unilever Nigeria will ask its shareholders to approve rights issue to raise $200 mln
Wednesday, 12 April 2017 18:21
Agrofood firm Unilever Nigeria announced on Wednesday that it aims to raise N63 billion ($200 million) via a rights issue. The firm, according to Reuters which reported the news, will seek the approval of its shareholders for the operation.
In a statement, the subsidiary of Dutch-British multinational Unilever said it will proceed to a vote for the fundraising at a meeting which will be held on May 11. Moreover, the company will also ask its shareholders to approve the conversion of their loans to stock, under the rights issue.
In addition to the share sale, Unilever Nigeria aims to increase its authorized share capital to N5 billion by creating an additional 3.95 billion new ordinary shares, at N0.50 per share.
Schadrac Akinocho
Live News
-
Ghana Partners with eLearning Africa to Boost Digital Learning Nationwide
18:31
-
Port of Limbé: Cameroon Bets on Turkish Yenigün, a Controversial Partner in a Risky BOT Deal
18:11
-
Ghana Launches Training Program to Boost Cancer Care Across Africa
17:45
-
DR Congo: Kamoa-Kakula Copper Smelter Secures Full Production Sales
17:41
-
African Liquefied Natural Gas Sector Fuels Asian Shipbuilding
17:37
-
Flutterwave Secures Payment License in Senegal, Expands Francophone Africa Presence
16:53
-
Logistics Startup Leta Launches Operations in Ghana
16:39
-
CEMAC Inflation Slows, but Cameroon Keeps Prices High in Q1 2025
15:33
-
Beninese Startup Ikena Simplifies Sales for Agricultural Cooperatives
15:20
-
Kamal ElSoueni Leads Sustainable Mobility Shift in Egypt with Rabbit Mobility
15:09
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...
• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
• Ghana signs a deal with eLearning Africa to expand digital learning access across the country.• The partnership focuses on deploying modern digital...
Ghana launches the Oncology Nurse Leadership Program (ONLEP) to train specialized oncology nurses from seven African countries. The five-year...
Ivanhoe Mines signs deal covering 100% of Kamoa-Kakula smelter’s copper output. The smelter will process up to 500,000 tonnes annually, starting at...
African gas projects drive significant contracts for Asian shipbuilders, especially for Floating Liquefied Natural Gas (FLNG) units. South Korean...
Kolmanskop offers a haunting blend of lost wealth, colonial history, and the unstoppable force of nature. Located just a few kilometers inland from...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...