Trans-Nationwide Express to Expand Logistics Business with N238.6b Rights Issue
Trans-Nationwide Express Plc (Tranex) has informed its shareholders that its rights issue which opened on Monday, July 24, 2017 will be channels to business expansion, to set on a growth trajectory in the logistics sector.
Tranex is a wholly owned Nigerian Logistics Company engaged in domestic and International Express delivery, haulage, freight and other ancillary transportation and storage services.
The company in a statement published on the official website of the Nigerian Stock Exchange on Friday also informed shareholders that the rights issue of 298.23 million ordinary shares of 50 kobo each at 80 kobo per share is on the basis of three new ordinary shares for every two ordinary shares held as at the close of business January 25, 2017.
Tranex Managing Director/CEO, Chidinma E Iheme encouraged shareholders to take advantage of this unique opportunity to increase their holdings in the Company.
She said the rights issue, billed to close on Wednesday, August 30, 2017, will further enhance profitability and shareholders’ value.
Related Posts
Dr. Awele Elumelu appointed board chair of Transcorp Hotels
Transcorp Hotels Plc, a subsidiary of Transcorp Group, has announced the appointment of Dr. Awele Elumelu as the…
ByStandard Chartered completes exit from Cameroon, hands over operations to Access Bank
Standard Chartered has officially completed the transfer of its entire banking business in Cameroon to Access Bank Cameroon,…
Vodacom secures Deloitte fairness opinion for $2.1bn Safaricom stake increase
Vodacom Group has cleared a major regulatory hurdle in South Africa after Deloitte delivered an independent fairness opinion…
KCB, Equity Group secure spots in Africa’s top 5 banks ranking
Two Kenyan banking giants, KCB Group and Equity Group, have secured spots in Africa’s top five best-performing banks…
Gallery
