By Modupe Gbadeyanka
One of the leading logistics companies in Nigeria, Trans-Nationwide Express Plc (Tranex), has listed additional 270,027,370 ordinary shares on the trading platform of the Nigerian Stock Exchange (NSE).
This exercise was done on Friday, November 17, 2017 by the management of the stock exchange.
Business Post reports that the additional listing arose from Tranex’s Rights Issue of 270,027,370 ordinary shares of 50 kobo at N0.80 per share in the Ratio of 3:2 ordinary shares held as at January 25, 2017.
With this listing of 270,027,370 ordinary shares, the total issued and fully paid up shares of Tranex Plc has now increased from 198,819,762 to 468,847,132 ordinary shares.
Tranex is engaged in domestic and international express delivery, haulage, freight and other ancillary transportation and storage services.
The firm is a wholly owned Nigerian company which was established in 1984 as TNT Skypak Nigeria Limited, but changed its name in 1992 to Tranex.
more recommended stories
Asian Stocks Fall as Violent Unrest Extends to Wednesday
By Investors Hub Asian stocks fell.
European Stock Markets Depreciate Wednesday
By Investors Hub European stocks have.
Renewed Trade Deal Uncertainty Weighs on US Stocks
By Investors Hub The major U.S..
CBN Crashes Treasury Bills Rates to Single Digit
By Dipo Olowookere The Central Bank.
Border Closure to Push Inflation to 11.32%—Analysts
By Dipo Olowookere Analysts at Meristem.
Dividends from Oil Firms to Lose Tax Exemption Status
By Adedapo Adesanya Nigeria’s Minister of.
Lagos Assures Business Owners Easy Access to Funds
By Dipo Olowookere Those who intend.
Nigerian Stock Exchange Sustains Gains by 0.54%
By Dipo Olowookere The positive sentiment.