Austin Laz Company PLC to Raise N2.1bn for Expansion
Austin Laz Company PLC is set to raise N2.1 billion in capital through a private placement, as approved by shareholders during an extraordinary general meeting held at the company's headquarters in Benin City. The resolution received unanimous support, empowering the board of directors to issue new shares.
Mr. Christoph Itua, the chairman of the board, described the authorization as laudable. Dr. Austin Lazarus Asimony, the managing director and chief executive officer of the company, stated that this step is a significant move towards turning the company around for better performance.
The capital raised will be utilized for business expansion, potential mergers, and investments, with hopes of attracting more investors and enhancing shareholder value.
Plus234Feed summary based on reporting from This Day. Read the original report below.
Read full article
Continue on This Day
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Austin Laz Company PLC to Raise N2.1bn via Private Placement
Jaiz Bank Secures Approval to Raise N150bn Capital
Linkage Assurance Completes N16.2bn Rights Issue Successfully
Access Holdings Reports N1 Trillion Profit, Growth Plan
Zichis Agro Allied Industries Gets ₦2bn Capital Injection
Linkage Assurance Plc Completes ₦16.2bn Rights Issue on NGX
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
