Rights Issue: Unilever UK will inject N38b into Unilever Nigeria
Reports suggest Unilever Plc, United Kingdom, the parent company of Unilever Nigeria, will inject about N38 billion into Nigeria. The parent company will be doing this via a rights issue which was approved by the shareholders of the company at its annual general meeting in Lagos. It was revealed in April that Unilever was planning […]
Reports suggest Unilever Plc, United Kingdom, the parent company of Unilever Nigeria, will inject about N38 billion into Nigeria.
The parent company will be doing this via a rights issue which was approved by the shareholders of the company at its annual general meeting in Lagos.
It was revealed in April that Unilever was planning a whopping N63 billion rights issue that would be used to pay down the company’s shareholder/related party loans. We reviewed this rights issue in detail here.
By injecting N38 billion into Nigeria, this suggest that related party loans may no longer be on the table which is rather surprising and contrary to expectations.
Unilever Nigeria share price closed lower at N36 on Friday
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