Rights Issue of Four Billion, Three Hundred and Fifty-Seven Million, Seven Hundred and Seventy Thousand, Nine Hundred and Fifty Four (4,357,770,954) ordinary shares of Fifty Kobo (N0.50) each at Eighty Kobo (N0.80) per share, on the basis of five (5) new ordinary shares for every thirteen (13) ordinary shares held.
What you need to know about right issue in finance.
A right issue is used when a publicly listed company is trying to raise funds by selling new shares.
According to the definition, a rights offering (rights issue) is a group of rights offered to existing shareholders to purchase additional stock shares, known as subscription warrants, in proportion to their existing holdings. ... Rights are often transferable, allowing the holder to sell them in the open market.
source : https://www.investingport.com/what-is-right-issue-in-finance/
What you need to know about right issue in finance.
A right issue is used when a publicly listed company is trying to raise funds by selling new shares.
According to the definition, a rights offering (rights issue) is a group of rights offered to existing shareholders to purchase additional stock shares, known as subscription warrants, in proportion to their existing holdings. ... Rights are often transferable, allowing the holder to sell them in the open market.
source : https://www.investingport.com/what-is-right-issue-in-finance/