Tag Archives: Share sale

Guinness Nigeria gets approval for new share sale

Guinness Nigeria Plc, announced on Tuesday it had received clearance from the Nigerian Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) to issue new shares.

The funds raised from the share sale, the company said will go to implementing its strategy in the context of ongoing external economic challenges.

Guinness Nigeria seeks NSE approval for share sale

Guinness Nigeria Plc, said on Wednesday it had sought approval from the Nigerian Stock Exchange (NSE) for a new share sale which it hopes would raise N39.77bn ($130m).

The company which has posted back-to-back losses in the last three quarters said it would issue the shares to existing shareholders at N58 per share, which represents a 17% discount on Wednesday’s closing of N70 per share. Existing shareholders would be offered five new shares for every 11 held as of Wednesday closing.