According to the company, this is yet another milestone achievement in its recapitalization journey.
In a statement, the company said: "Recently, the Company conducted its rights issue exercise listing 4,357,770,954 ordinary shares of Fifty Kobo (N0.50) each at Eighty Kobo (N0.80) per share, on the basis of five (5) new ordinary shares for every thirteen (13) ordinary shares held.
"The company witnessed about 126 per cent subscription, an indication of shareholders' excitement at the opportunity and readiness to be part of the promising future.
"Shares allotted will be credited immediately to the CSCS accounts of allottees by the registrars to the issue.
Commenting on the outcome, the Managing Director & CEO, Mr
"They share our thoughts and vision for a much stronger and resilient company, and are positioning themselves to take full advantage of the inherent opportunities."
The Chief Financial Officer, Mr Oladeji Oluwatola, also stated that the Company's market leadership status and unwavering commitments to its various stakeholders have continued to endear investors to the brand.
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