By Dipo Olowookere
One of the leading indigenous conglomerates in the country, the United Africa Company (UAC) of Nigeria Plc, has announced listing additional shares on the floor of the Nigerian Stock Exchange (NSE).
Business Post reports that the firm listed additional 960,432,193 ordinary shares on the Daily Official List of the NSE on Friday, March 2, 2018.
According to a statement issued by the management of UAC of Nigeria, the additional shares listed arose from the rights issue of the company recently completed.
As a result of this, the total number of ordinary shares issued by UAC of Nigeria has risen to 2,881,296,580 from 1,920,864,387.
During the exercise, UAC of Nigeria offer to its shareholders 960,432,193 ordinary shares of 50 kobo each at N16 per share on the basis of one new ordinary shares for every two ordinary shares held as at October 19, 2017.
“With this listing of 960,432,193 ordinary shares, the total issued and fully paid up shares of UACN has now increased from 1,920,864,387 to 2,881,296,580 ordinary shares,” the statement issued by the Head of Listings Regulation Department at the NSE, Mr Godstime Iwenekhai, disclosed.
