By Ify Onye InvestAdvocate
Lagos (INVESTADVOCATE)-Neimeth International Pharmaceuticals Plc has extended its Rights Issue by Seven (7) days.
This was contained in a notice dated November 16, 2011 to the Nigeria Stock Exchange (NSE) and obtained by www.investadvocateng.com Thursday in Lagos Nigeria.
“Neimeth International Pharmaceuticals Plc has notified The Exchange that it has obtained the approval of the Securities & Exchange Commission to extend its on-going Rights Issue for another Seven (7) working days.
Consequently, the Offer will now close on Monday, November 21, 2011†the notice said.
Neimeth had affirmed that the injection of the N1.23 billion from its on-going Rights Issue would boost its operations and guarantee higher returns to investors of the Company.
On October 04 2011, Neimeth sought to raise N1.23 billion by way of a Rights Issue by offering to existing shareholders 821.577 million shares of 50 kobo each at N1.50 per share.
Meristem Securities Limited is Issuing House to the Offer which opened on October 04 and will now close on November 21, 2011.
