The Board of Directors of Neimeth Pharmaceuticals met on January 15 and resolved that the company will raise additional equity to the tune of N5 billion.
The Board resolution proposing the equity raise will be presented for approval at the annual general meeting of the company scheduled to hold on March 9, 2021, according to a notice signed by the Company Secretary, Florence Onyenekwe.
On Monday January 18, investors exchanged 2,079,815 units of Neimeth shares at an average price of N2 per share, far below its 52 week high of N2.91.
