Presco Plc (PRESCO), a Nigerian palm-oil producer, jumped to its highest level on record because of prospects that it will maintain dividend payments and a plan to expand into rubber plantations lure investors. The stock rose 3.3 percent to 44 naira by the close in Lagos, the commercial capital. More […]
Capital Market
Oando to seek shareholders’ vote to raise 250 bln naira
Nigeria’s Oando plans to seek shareholder approval to raise up to 250 billion naira ($1.5 bln) via debt or equity, the energy company said on Tuesday. Oando plans to hold the shareholder meeting on Feb. 18, it said in a statement, adding that 50 billion naira of the amount will […]
UBA lifts Power Sector Privatization with US$700 million funding
United Bank for Africa Plc (UBA) has extended US$700 million (N113 billion) in funding to different investors towards the acquisition of power assets in Nigeria’s recently privatized power sector. Phillips Oduoza, Group Managing Director and Chief Executive Officer (GMD/CEO), UBA Plc, said this while speaking on the sidelines of the […]
