Flour Mills Set For First Tranche Of N110bn Fresh Capital Raising

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The board of Flours Mills of Nigeria Plc, on Monday said it is set to raise a total of N110bn by way of rights to existing shareholders and issuance of Medium Term Notes.
A total of N40bn is to be sourced by way of the first tranche of a Rights issue for which approval was secured from the Securities & Exchange Commission (SEC) as part of a registered shelf fund raising programme.

The company in a statement to the Nigerian Stock Exchange (NSE) by Joseph Umolu, its company secretary and director, Legal Services, revealed plans for N70bn through Medium Term Notes for which discussions are ongoing with stakeholders such as financial and legal advisers, as well as issuing houses “to determine the right time and cost for issuing such financial instruments which eventually be duly registered with the proper financial bodies.

http://investdata.com.ng/2017/10/flour-mills-set-first-tranche-n110bn-fresh-capital-raising/#more

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