DUNLOP SHARE OFFER EXTENDED
Dunlop Nigeria Plc had been granted an extension on its
on-going share offer by the Securities and Exchange
Commission till January 12th 2007. The combination of public
offer and rights issue to both the public and existing
shareholders opened on November 29th 2006 and was to have
closed on January 5th 2007 before the extension.
The extension till January 12th 2007 is to allow interested
investors more time to participate in the offer and to
compensate for the public holidays declared by the Federal
government for both the Christmas and Id-el-kabir festivals.
Dunlop is offering a total of about 1,504,480,000 ordinary
shares of 50 kobo each at N2.50 kobo per share by public
offer while 756 million ordinary shares of 50 kobo are
offered by way of rights to existing shareholders at a
discounted price of N2.30 per share.
The offer is packaged by UBA Global Markets Limited.,
Ecobank Nigeria Plc and Sterling Capital Market Limited as
joint issuing houses.
According to Mr. Mohammed Yinusa, Group Managing Director of
Dunlop,” the extension of the offer period gives opportunity
to more interested individuals and groups alike to be part
of Dunlop’s bright future”
At different fora, analysts and leading investors have rated
the on-going hybrid offer of Dunlop Nigeria plc, high, based
on the promise of a more profitable future by the new
management and the expected positive contributions of the
heavy investment in the new All Steel Radial Truck tyre
plant. The new plant is expected to double the turnover of
the tyre giant in 2007.
Mr. Abiona Babarinde
Public Relations Manager
Mobile No; 0805-332-0910
Email: aababarinde@dunlopng.com
January 8th, 2007.
