• Home
  • News
  • Trans-Nationwide Express to Expand Logistics Business with N238.6b Rights Issue

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

African Development Bank Group President Dr Adesina visits Brazil’s President Lula to Foster Investment and Economic Cooperation

African Development Bank Group president, Dr Akinwumi Adesina is travelling to Brazil for a two-day official visit to…

PalmPay unveils First Set of Winners in Eid Bonanza

Fintech Company PalmPay, has announced the first set of winners in its ongoing Eid campaign tagged PalmPay Eid…

Ericsson, Istanbul Technical University, and Turkcell unveil 5G Test Network at İTÜ Campus

Ericsson has collaborated with Istanbul Technical University (İTÜ) and Turkcell to establish a 5G test network at İTÜ’s…

African Development Bank Opens new office in Yaoundé, Cameroon

The African Development Bank Group, has announced the opening of its newest office for Central Africa. The office…

Leave a Reply

Your email address will not be published. Required fields are marked *