A leading manufacturer of pharmaceuticals products in Nigeria, Pharma Deko Plc said on Tuesday its N270 million rights issue was 77.88 percent subscribed as the firm lists 116,819,694 ordinary shares on the Daily Official List (DOL) of the Nigerian Stock Exchange (NSE), according to the company in a notice to dealing member.
“This is subsequent to the conclusion of the rights issue exercise by the company. With the supplementary listing of 116,819,694 ordinary shares, the total issued and fully paid up shares of Pharma Deko Plc has now increased from 99,518,000 to 216,337,694 ordinary shares,” the notice added.
The drug-maker on December 17, 2014 opened the offer and was earlier scheduled to close January 30, 2015; but sought extension which saw it close on Friday, February 13, 2015.
Pharma Deko sought to raise fresh funds by offering via a rights issue of 150 million ordinary shares of 50 kobo each at N1.80 kobo per share on the basis of three (3) new ordinary shares for every two (2) ordinary shares held as at the close of business on September 9, 2013 for those shareholders whose name appear on the Register of Members of the company.
Issuing house to the offer is Integrated Trust & Investment Limited.
