Tuesday, October 24, 2017 3:24:15 AM- Nigerian Stock Exchange.

  FLOURMILL to target N 70 billion capital raise


Oct 10 (Lagos) - Flour mills of Nigeria Plc ( FLOURMILL ) has announced that it would commence the process of raising additional capital through a Rights Issue and Medium Term Notes (MTN). 

In 2015, shareholders authorized the directors to raise up to N 40 billion (US$111.17m) of additional equity via a Rights Issue. 

Now the Company has said it is targeting N 70 billion. 

Shares of FLOURMILL are up more than 4% today to N 29 per unit. 

reporting for easykobo.com on Tuesday, Oct 10 2017 from Lagos, Nigeria

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