Economy
Lafarge Africa N89.2b Rights Issue Records 100% Subscription
**Allocation to be Completed March 19
By Dipo Olowookere
Last year, the board of Lafarge Africa Plc announced a rights issue worth N89.2 billion aimed to assist the cement firm generate more revenue and increase its market share.
The exercise opened on December 17, 2018, with a total of 7,434,367,256 ordinary shares of 50 kobo each offered for sale on the basis of six ordinary shares for every seven ordinary shares held as at December 4, 2018 at N12 per share.
Details of the exercise revealed that during the exercise, which closed on January 28, 2019, a total of 1,826 acceptances for 7,434,367,256 units valued at N89,212,407,072 were received from shareholders.
According to Lafarge Africa, 1,826 Acceptance Forms for 7,434,367,256 units of the rights issue received were found to be valid under the terms of the exercise and were processed accordingly.
In addition, 1,734 shareholders accepted their rights issue in full totaling 5,931,501,457 ordinary shares, out of which 738,731,071 ordinary shares were traded on the floor of the Nigerian Stock Exchange (NSE).
Also, 92 shareholders with a provisional allotment of 395,875,060 ordinary shares partially accepted their rights for 202,401,994 ordinary shares.
Lafarge Africa said as a result of the above, the balance of 193,473,066 ordinary shares were renounced, with 34 subscribers purchasing rights of 738,731,071 ordinary shares on the floor of the NSE.
It was further said that of the 1,734 shareholders who took up their rights in full, 734 shareholders also applied for additional 1,300,463,805 ordinary shares and were allotted in full from the renounced rights, while a total of 1,106,990,739 ordinary shares were fully renounced, bringing the total number of shares renounced to 1,300,463,805 ordinary shares.
Lafarge Africa stated that all the allotments have been cleared by the Securities and Exchange Commission (SEC), while the Registrars to the offer, CardinalStone Registrars Limited, will credit the shares allotted to the CSCS accounts of applicants who have indicated their CSCS account numbers on their respective application forms with the shares allotted not later than March 19, 2019.
It was stressed that surplus monies due to subscribers will be returned within five working days of approval of allotment of securities in accordance with the rules and regulations of the commission.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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