International Breweries floats N1.3b offer
September 4th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
The management of International Breweries Plc, has floated a public offer to raise additional N1.3 billion. The purpose of the offer is to manage its loans as well as other pressing issues.
The issuing house to the offer is Sterling Capital Markets Limited. The application opens on August 31, 2007 and closes on September 28, 2007, and it involves an offer for subscription of 1.6 billion shares of 50 kobo each at 87 kobo per share.
Based on the new SEC rules, the offer has been 80 per cent underwritten by the issuing house indicating that it may have been fully subscribed.
From the prospectus, the funds realized would be used in the area of capital investments to improve plant and equipment reliabilities and expand overall production capacity will get the lion share of 69.94 per cent or N921.8 million, while 25.13 per cent or N331.3 million will go into staff rightsizing costs and the remaining 4.93 per cent or N65 million will go into the repayment of bridging loan.
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How do I go about this am I am a beginner and am interested
Which banks do we pay to?
just get yourself a broker first, i will not advise you to go into something you have no knowledge of, get to learn some basic skills what to do how to do when to do all these is very important , and you can get that from a broker, is unfortunate that we Nigerian don’t like paying for services, but is all good, mind you i’m not a broker , my job is Logistics .
Good luck
@bami
you are completely right. “to make omelet, one must break an egg”.
@bolanle, affiong
first things first. get a stockbrocker’s advice and do the basics so u no go fall inside pit oooooooooooo.
How do I go about this am I am a beginner and am interested, also i am in benin how can i get a stock broker.
My name is Ijeoma Wesley Chidube, a student of Madonna university, Elele Campus. I participated in purchasing the int’l brew. N1.6b ordinary Shares of 50k each at 87k per share, sold Aug. 2007. But i received a mail stating my Cert. No. 38878580. returned unclaimed. Please I want to take my Cert. but i do not know your office address for the duly signed instruction to remail it. My tel: 08063529221
i subscribed for the inter brew. N1.6b ordinary Shares of 50k each at 87k per share, sold Aug. 2007, but i have not recieved any certificate nor refund money as a result of the over subscription as ealier announced, nor any form of notification on the shares subcription. please help me out, i am in the blues.