Lafarge Africa Rights Issue Facts
Lafarge Africa Opened its Rights Issue on 25th November 2017 which will run through 15th December 2017. Lafarge Africa Plc Rights Issue of 3,097,653,023 Ordinary Shares of 50kobo Each at ₦42.50 Per Share Issue Price N42.50 Opening Date: 25 th November 2017 Closing Date 15 th December 2017 Underwriting status: Nil Purpose of the Issue: The Rights Issue is being undertaken to enable Lafarge Africa Plc optimise its capital structure by deleveraging its balance sheet, thereby reducing costs. Use of Proceeds: Net Issue proceeds estimated at N130,298,062,609 will be applied towards the repayment of the Company’s various outstanding loan obligations. Finance Working Capital Expansion of Operation The fund would be applied as follows assuming full subscription: 71.35% for the payment of loan 13.80% to support Working Capital 13.80% for Expansion of Operations Benefit to Shareholders. The Rights is currently being offered at a discount