Royal Exchange Plc to raise N2.058bn via Rights Issue

Royal Exchange Plc at its recent Extra-Ordinary General Meeting has passed a resolution to raise equity capital of N2,058,148,030 (Two Billion, Fifty Eight Million, One Hundred and Forty-Eight Thousand, Thirty Naira by Rights Issue.

The Company will issue to existing shareholders 4,116,296,059 ordinary shares of 50 kobo each on the basis of four (4) new ordinary shares for every five (5) ordinary shares held in the Company, on such other terms and conditions as the Directors may deem fit.

Shareholders have authorized the Directors to fix an amount to which the Rights Issue will be offered to existing shareholders.

Source: Royal Exchange Plc to raise N2.058bn via Rights Issue – StocksWatch (

Your Comment:

Related Posts


Business & Economy

Stock Market Review: March 29, 2023

The Nigerian stock market on Tuesday closed on a bearish note as the All Share Index and Market Capitalisation closed at 53,124.63 points and N28.940 trillion respectively. In a stock market review with the MD/CEO of Global View Capital Limited, Aruna Kebira, the following was discussed: Excerpts: • The market on Tuesday continued its southward journey, shedding 1.16%,[…]