C&I Leasing files application with SEC for N3.2bn Rights Issue

C&I Leasing Plc has notified its esteemed shareholders, stakeholders, the Nigerian Stock Exchange (NSE) and the general public, that the Company has filed an application with the Securities Exchange Commission (SEC) for approval.

C&I Leasing Plc is seeking approval to undergo a Rights Issue of 539,003,333 ordinary shares of 50kobo each at N6 per share.

The rights issue to existing shareholders will be based on 4 new ordinary shares for every 3 ordinary shares held. The qualification date for the Rights Issue is Wednesday, September 4, 2019, according to September 9 notice at the Exchange signed by Mbanugo Udenze & Co, Company Secretary.

Subject to the approval of the SEC, the company shall hold a signing ceremony to execute all offer documents before opening the offer in line with the approval obtained.

Rights circular will be distributed to shareholders while application forms would also be made available on the website of the company’s Registrars for ease of access.

Before now, Dealing Members of the Exchange were notified that C&I Leasing Plc through its Stockbroker, CSL Stockbrokers Limited, submitted an application to the Nigerian Stock Exchange for the approval and listing of the Rights Issue.