Lafarge to convert loans to equity, seeks shareholders’ nod over N140bn fresh capital

Lafarge to convert loans to equity, seeks shareholders’ nod over N140bn fresh capital

Lafarge Africa PLC is set to raise N140 billion from the capital market.

The Ogun state-based cement plant firm also wants to merge with UNICEM.

The company’s board of directors has submitted to the Nigerian Stock Exchange a notice of its 58th Annual General Meeting (AGM) at which it will propose a rights issue for an amount up to N140 billion for approval by the shareholders.

The AGM is scheduled to be held in Lagos on June 7, 2017.

Also on the AGM’s agenda is a proposal to shareholders to approve the merger of UNICEM with Lafarge Africa into Lafarge Africa.

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