Market intelligence, trend analysis and forecasts for the Food and Drink industries across the regions

Finance / Nigeria

Cadbury Extends US$170mn Rights Issue Deadline

October 2009 | Company News Alert

Cadbury Nigeria has extended the deadline for its NGN22bn (US$167mn) rights issue by one week to October 30 2009 after many of its shareholders failed to receive the circular. In June 2009, the confectioner announced plans to sell 2.57bn ordinary shares at NGN8.65 per share with the price representing a 36% discount on the company's closing share price on June 29 2009. Following rights application, the firm's shares were frozen from trade by the Nigerian Stock Exchange.

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