News Formal

Geregu Power, investors begin talks over acquisition

  • 📰 MobilePunch
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Geregu Power Plc and Fund for Export Development in Africa have begun talks for the acquisition of a portion of the local power generating company.

The company’s share has gained about 23 per cent since it was listed on the NGX two months ago.

The power firm is valued at N307 billion with 2.5 billion outstanding shares sold at N122.80 on Friday, according to investors. Geregu Power was listed at N100 this year and had hit a 52-week high at N130.2. The company has been in the debt capital market to raise funds for expansion and improve working capital.The company recently raised N40 billion in bonds from the local debt capital market this year.

According to a notification signed by the company’s secretary, Akinleye Olagbende, “Geregu Power Plc hereby notifies Nigerian Exchange Limited and the investing public of its discussions with the Fund for Export Development in Africa for the acquisition of a portion of Geregu Power Plc shares.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Otedola’s Geregu Power begins share acquisition talks with AfreximbankGeregu Power’s share price fell 5.7 per cent N122.8 in Lagos on the day of the announcement, a signal investment are possibly not impressed by the move.
Source: PremiumTimesng - 🏆 3. / 78 Read more »