Unilever Nigeria has scaled back the amount it plans to raise from shareholders via a rights issue to 58.85 billion naira ($162 million).
The household products maker, majority owned by Unilever , had planned to raise 63 billion naira through a rights issue and said in April it would ask shareholders to approve the share sale.
The company said on Tuesday it would issue 14 new shares to existing shareholders for every 27 held at 30 naira each, a 25.2 percent discount to Tuesday’s market price of 40.13 naira.
It said the rights offer, which opened on Monday, would close on Sept. 8. It planned to offer 1.96 billion shares.
Unilever Nigeria was not immediately available to comment on Tuesday.
In July, the company reported a 238 percent rise in half-year pretax profit to 5.04 billion naira.
Reuters
