Chams Holding Company Plc has concluded arrangements to raise N3.99bn from the Nigerian capital market through a rights issue aimed at strengthening its capital base and funding its operations.
According to a market bulletin issued by the Nigerian Exchange Limited on Monday, the company has submitted an application for the approval and listing of 2,348,030,000 ordinary shares of 50 kobo each at N 1.70 per share under the rights issue.
The offer will be made on the basis of one new ordinary share for every two ordinary shares held by existing shareholders as of the close of business on Monday, which is the qualification date.
The rights issue is being facilitated by five stockbroking firms acting on behalf of the company: Tiddo Securities Limited, Cowry Securities Limited, APT Securities and Funds Limited, Lambeth Capital Limited, and CSL Stockbrokers Limited.
The PUNCH reported that Chams Holdings Plc, one of the firms with the highest capital gains for investors on the Nigerian Exchange Limited in 2023, has returned to the green zone as it recorded an N20.22m profit at the end of the year.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]
