The ongoing Rights Issue of leading construction solutions providers, Lafarge Africa Plc., industry observers has continued to elicit good reactions from experts and leading
Already, the lead marketer of the Issue, ARM Securities has raised key pointers favouring the Rights Issue.
Whereas the right is offered at a 15% discount (Right Price of N42.50) to stocks current price of N50, the right issue is available to existing shareholders on the basis of 5 new shares for every 9 shares held at close of business Wednesday November 1st 2017.
The third key pointer is that if you are not willing to take up your rights you can sell.
Details of Rights made available to Business Hilights show that Lafarge Africa is issuing with 3,097,653,023 Ordinary shares of 50 kobo each, with Rights Price at N42.50 per share
Also, Gross Issue Proceeds stood at N131,650,253,478 as Provisional Allotment – 5 new Ordinary Shares for every nine Ordinary Shares of 50 kobo each held as at the close of business on 1st November 2017. Right opens on the 24th of November 2017 and closes on the 15th of December 2017.