C&I Leasing seeks NSE’s approval for N32.3bn rights issue

C and I Leasing Plc., is seeking the Nigerian Stock Exchange’s (NSE) approval for a rights issue worth N32.3 billion.

NSE in a notification to dealing members Wednesday, stated that the company has submitted an application through its shareholders, CSL stockbrokers Limited.

The rights issue entails listing of 539,003,333 ordinary shares of fifty kobo each at N6 per share, on the basis of 4 new ordinary shares for every 3 ordinary shares held.

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The qualification date for the rights issue is today Wednesday, 4 September 2019, Godstime Iwenekhai, head, listings regulation department of the NSE added.

C and I Leasing Plc was the best performing stock for the month of August, appreciating by 33 percent to close at N7.30.

The C&I Leasing group of companies was incorporated as a limited liability company in 1990 licensed by the Central Bank of Nigeria to offer operating leases, finance leases and other ancillary services.

It serves its clients through three divisions; Fleet Management, Outsourcing and Marine Services with two subsidiaries in Ghana (Leasafric) and the United Arab Emirates (EPIC International FZE).