By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigeria’s top tier brewer, Guinness Nigeria Plc on Wednesday submitted an application to the Nigerian Stock Exchange (NSE) through its stockbroker; STANBIC IBTC Stockbroking Limited to raise fresh funds of N39.7 billion via a proposed rights issue.
InvestmentOne Research say Guinness is selling at a price of N58.00 per share on the basis of 5 new Ordinary Share for every 11 Ordinary Share held.
The company plans to issue 684,494,631 Ordinary shares of 50 kobo each and qualification date is Wednesday 15 March 2017.
Shares of Guinness at the close of the session on the Nigerian bourse appreciated 2.94 percent to N70.00 from N68.00 the previous session; gaining N2.00 per share.
