Lafarge Africa To Raise N89.21 Billion By Right Issue

Lafarge Africa Plc, on Tuesday 4, December 2018, announced that the board of directors, after their meeting on Monday 3, December 2018, will be raising N89.21 billion by way of a Rights Issue at N12.00 per share, by issuing 6 new shares for every 7 shares held by shareholders at the Qualification Date, which will be announced.

According to a statement which was sent to the Nigerian Stock Exchange (NSE) and signed by Lafarge Africa Plc company secretary Adewunmi Alode, the Rights Price represents a c.10.45% discount on Lafarge Africa’s traded closing price as at Monday, 3rd December 2018.

“Following the resolution of our Shareholders passed at the Extra-Ordinary General Meeting held on the 25th September 2018, the Board of Directors have approved the terms of the Rights Issue”. The regulatory approval process is ongoing.

Photo Caption: Bolaji Balogun Chairman Lafarge Africa Plc