Economy
PZ Cussons Raises Offer Price for Minority Stake Acquisition to N23 Per Unit
By Dipo Olowookere
The core investor of PZ Cussons Nigerian Plc, PZ Cussons (Holdings) Limited, has increased the price it is offering the minority shareholders of the company by 15 per cent.
In September 2023, the major shareholder in PZ Cussons put its offer price for the acquisition at N20 per unit, but this was reportedly rejected by the small investors.
In a notice to the Nigerian Exchange (NGX) Limited on Thursday, the company said this amount has been raised to N23 per share, with the board stressing that it sees this as a fair value.
According to the statement signed by the acting company secretary, Ms Olubukola Olonade-Agaga, this new amount “represents a premium of 35 per cent to the company’s share price of N17 on August 17, 2023, being the last traded price prior to the offer date.”
PZ Cussons wants to delist its shares from the local stock exchange, and its core investor is looking to be in total control of the company’s equities as the firm goes private.
There had been talks in the past years that the manufacturer of healthcare products and consumer goods was planning to leave Nigeria because of unfavourable market conditions.
The Nigerian space has witnessed the exit of major players in the sector, including GlaxoSmithKline, Sanofi-Aventis, and others, due to the above reasons.
Recently, the board of PZ Cussons met to discuss the takeover and it said the N23 PZ Cussons Holdings was offering should be approved by the minority shareholders.
The deal is to be concluded through a Scheme of Arrangement in line with section 715 of the Companies and Allied Matters Act, No.3 of 2020 (as amended) and other applicable rules and regulations.
In the statement yesterday, the board disclosed that it has “approved that a general meeting of the company’s shareholders be convened pursuant to the Securities and Exchange Commission’s No-objection and an order by the Federal High Court.
However, details of the Court Ordered Meeting, which includes the date, time, venue and agenda for the gathering, have not been revealed, though the board promised to communicate this to “shareholders upon receipt of the requisite approvals from the Securities and Exchange Commission and the Federal High Court.”
It noted that, “The terms and conditions of the offer will be provided in the Scheme Document, which will be dispatched to all shareholders prior to the Court Ordered Meeting.”
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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