UAC of Nigeria Plc (UACN) has announced plans to raise N15.4 billion fresh capital via right issue on the Nigerian Stock Exchange
The company announced on The Exchange on Wednesday a right Issue of 960,432,193 ordinary shares of 50 kobo each to existing shareholders at an offer price of N16.00 per share on the basis one new ordinary shares for every two ordinary shares held as at the close of business on Thursday, October 19, 2017.
The Rights Issue is aimed at boosting the Company’s working capital and also re-capitalize the subsidiaries within the Group. The offer period opens today November 15, 2017 and closes on Friday, December 22, 2017.
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