By Dipo Olowookere
Additional 745.2 million ordinary shares of May & Baker Plc have been listed on the Nigerian Stock Exchange (NSE).
A notice signed by the Head of Listings Regulation Department at the NSE, Mr Godstime Iwenekhai, confirmed that the additional shares were listed on the daily official list of the local bourse on Thursday, January 24, 2019.
The equities came from the rights issue exercise conducted by May & Baker last year, which was 76.04 percent successful.
During the rights issue, the board of the company offered for grabs 980 million ordinary shares of the firm of 50 kobo each at N2.50 per share on the basis of one new ordinary shares for every one ordinary shares held as at September 4, 2018.
With the new listing, Mr Iwenekhai said the total issued and fully paid up shares of May & Baker has now increased from 980 million to 1.73 billion ordinary shares.
“Dealing members are hereby notified that additional 745,234,886 ordinary shares of May & Baker Plc were listed on the daily official list of the Nigerian Stock Exchange on January 24, 2019.
“The additional shares listed arose from May & Baker’s Rights Issue of 980 million ordinary shares of 50 kobo each at N2.50 per share on the basis of one new ordinary shares for every one ordinary shares held as at September 4, 2018.
“The Rights Issue was 76.04 percent successful.
“With this listing of the additional 745,234,886 ordinary shares, the total issued and fully paid up shares of May & Baker has now increased from 980 million to 1.725 billion ordinary shares,” the statement said.
Business Post reports that shares of May & Baker traded flat at N2.39k per unit as at the close of business on Thursday.
