Neimeth International Pharmaceuticals Plc has concluded arrangements to commence its N3.67 billion right issue; to the existing shareholders of the company in August.
The pharmaceutical company held a Completion Board Meeting to float a Rights Issue of N3.67 billion . Which is through the Nigerian capital market.
The Rights Issue which will commence on August 3, 2022; will be used to raise the sum of N3,679,618,625 at the cost of N1.55k per 50 Kobo share.
The shareholders of the company had in March 2022 at the 63rd Annual General Meeting (AGM); approve the creation of 2,373,947,500 additional Ordinary Shares which will allot. Which at the rate of five new shares for every four shares currently held in the company.
-Nairametrics.