The board of C&I Leasing Plc, on Wednesday, announced plans to raise N3.56bn by way of rights to existing shareholders.
In a notice to the Nigerian Stock Exchange (NSE), the company said the fund is being sourced via an offer of 53.003m ordinary shares of 50 kobo by way of rights at N6 each on the basis of four new ordinary shares for every three held.
While the qualification date for the Rights Issue is Wednesday, 4 September 2019, it is, however, subject to the approval of the executed offer documents by the Securities & Exchange Commission (SEC).
The application list is however expected to open on November 11, 2019, or any other date approved by the Commission and shall open for a maximum period of 28 days.