NSE lists additional 336.8m units of Red Star Express

The Nigerian Stock Exchange (NSE) has listed additional 336,855,291 ordinary shares of Red Star Express Plc.

The additional shares listed on the Daily Official List of the Nigerian Stock Exchange arose from Redstar Express Plc Rights Issue of 336,855,291 ordinary shares of 50 kobo each at N4 per share.

It was on the basis of four (4) new ordinary shares for every seven (7) ordinary shares held as at 21 August 2019. The Rights Issue was 100 percent subscribed.

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Dealing Members were notified on Friday March 6, 2020 according to a notice signed by Elizabeth Ekpo for Head, Listings Regulation Department, NSE.

With this listing of the additional 336,855,291 ordinary shares, the total issued and fully paid up shares of Redstar Express Plc increased from 589,496,760 units to 926,352,051 ordinary shares of 50 kobo each.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).