C&I Leasing Extends Closing Date for Rights Issue

By Dipo Olowookere

The board of C&I Leasing Plc has received an approval to extend its rights issue for another two weeks, giving room for more shareholders to partake in the exercise.

This extension was announced by the Nigerian Stock Exchange (NSE) in a circular to the investing public and dated Friday, December 27, 2019 with reference number NSE/RD/LRD/MB76/19/12/27.

This was after the company received an approval from the Securities and Exchange Commission (SEC) to extend the sale for another two weeks.

The exercise was earlier slated to end on Friday, December 27, 2019, but an approval was granted to the firm to keep selling the rights issue till Monday, January 13, 2020.

Business Post reports that C&I Leasing is selling during the rights issue a total of 539,003,333 ordinary shares of 50 Kobo each at N6.00 per share on the basis of four new ordinary share for every three ordinary shares held as at September 4, 2019.

“Further to the market bulletin with reference number NSE/RD/LRD/MB65/19/11/18, dated November 18, 2019, on the above subject, dealing members are hereby notified that trading in the C&I Leasing’s rights issue of 539,003,333 ordinary shares of 50 Kobo each at N6.00 per share on the basis of four new ordinary share for every three ordinary shares held as at September 4, 2019, has been extended to January 13, 2020,” the notice signed by the Head of Listings Regulation Department at the NSE, Mr Godstime Iwenekhai, stated.