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
FirstBank Ghana expands presence with two new Accra branches
FirstBank Ghana has strengthened its presence in the capital with the official opening of two new branches in…
By
Champion Breweries raises ₦30bin landmark debut bond issue
Champion Breweries Plc has completed its debut bond offering, raising ₦30 billion through a 5-year fixed-rate senior unsecured…
Engen Botswana announces board changes: Ravi Kara appointed
Engen Botswana Limited (Engen Botswana) has unveiled a significant change in its boardroom leadership, ushering in a new…
Dangote awards $350m refinery expansion contract to India’s EIL
In a major boost to Africa’s energy sector, Nigeria’s Dangote Group has awarded a contract worth more than…
Gallery
