Vital Products

[DEEINVESTOR]

Anybody heard about this PP, it started on the 18th of July.

[DEEINVESTOR]

Dont have the soft copy of the Memorandum.

[solainvest]

Proshare News

Food & Beverage players, Vital Products Limited’s N1.625 billion Private Placement (PP) is still in progress as the company is determined to become a leading Player in that subsector of the Nigerian economy.



Jitendra Pandey, Managing Director (MD) of the company made this affirmation to Proshare NI today in Lagos Nigeria.



“Vital Products has within a short period it came out in the market; had its own market share” Pandey said.



Though as at the time of filling in this report, Proshare NI could not determine the percentage of the market share in the Food and Beverage industry Vital Products has taken.



He further affirmed that the growth in the company’s market share is based on the introduction of new products and greater market penetration by Vital Products.



Following the Federal Government’s (FG’s) ban on importation of confectioneries, flavoured yoghurt drinks, fruit juices in retail packs and table water.



Vital Products has taken advantage of the opportunity provided by this ban to explore the food and beverage subsector of the Nigerian economy with significant recognition for growth.



The major products from the stable of the company include different range of Fruit Drinks for children and Tomato paste that is vital for good cooking.



In the same vein, the company’s drive to raise N1.625 billion by way of Placement is still on course.



As earlier published on Proshare’s website, Vital Products is offering 650 million Ordinary Shares of 50 Kobo each at N2.50 Kobo per share.



However, minimum subscription to the Placement is 100,000 ordinary shares of 50 kobo each and in multiples of 20,000 units thereafter.



Vetiva Capital Management Limited (VETIVA) is Financial Adviser/Issuing House to the Placement; expected to close on August 29, 2008.

[solainvest]

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