NASD Targets N12bn in Rights Issue to Fund Next Phase of Growth

NASD Plc is seeking to raise N12 billion through a Rights Issue to strengthen its capital base and fund its next phase of growth. The capital raise will support regulatory recapitalisation requirements and provide additional financial capacity for technology infrastructure, working capital, and market development. Under the offer, NASD will issue 480 million ordinary shares of N1 each at N25 per share, on the basis of four new shares for every five existing shares held. If fully subscribed, the Rights Issue will raise N12 billion in gross proceeds.

Read More