Flour Mills of Nigeria Plc has notified the Nigerian Exchange and its stakeholders that it has received an offer from its majority shareholder, Excelsior Shipping Company Limited, to acquire all shares held by minority shareholders in Flour Mills.
The transaction will be executed through a Scheme of Arrangement between the company and its shareholders.
The company has received a ‘No Objection’ approval for the scheme from the Securities and Exchange Commission (SEC).
The Nigerian stock market rebounded last week after four consecutive sessions of losses, posting a ₦985 billion gain on the back of price growth in 70 equities. The All-Share Index (ASI) advanced by 1.13%, closing at 140,545.69 points, compared to 138,980.01 points in the previous week. Similarly, market capitalization rose by 1.12% to settle at ₦88.922 trillion, […]
The Nigerian equity market on Thursday closed on a positive note as The All Share Index moved up by 0.21% to close at 140,665.84 points from the previous close of 140,365.36 points. Investors gained N191 billion as the Market Capitalisation grew by 0.22% to close at N89.004 trillion from the previous close of N88.813 trillion. An aggregate[…]
