Flour Mills Nigeria to Sell Shares at 62 Naira in Rights Offer
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Flour Mills of Nigeria Plc, which processes grains and sells cement, will offer shares to existing investors at 62 naira apiece, said Walter Bassey, an equity trader at CSL Stockbrokers Ltd.
Flour Mills is selling 455.6 million shares in the rights offer, and shareholders will be entitled to buy eight new shares for every 33 already held, Bassey said in an e-mailed statement, citing information provided to brokers by the stock exchange. The qualifying date is Oct. 7, he said.