Capital Market
Chemical and Allied Products Plc Lists Additional 88,259,520 Ordinary Shares After Merging With Portland Paints
The Chemical and Allied Products Plc (CAP Plc) on Friday announced listing of 88,259,520 ordinary shares of 50 kobo on the Nigerian Exchange Limited (NGX).
The announcement came few weeks after CAP Plc and Portland Paints merged to deepen market reach and enhance quality of production.
In a statement released by CAP, the company said “Trading License Holders and the investing public are hereby notified that the resultant Scheme shares of 88,259,520 ordinary shares of 50 Kobo each were listed on the Daily Official List of Nigerian Exchange Limited (NGX) on Friday, 17 September 2021.
“With the listing of the additional 88,259,520 ordinary shares, the total issued and fully paid up shares of CAP Plc has now increased from 700,000,000 to 788,259,520 ordinary shares of 50 kobo each.
“In addition, the entire 793,415,535 issued and outstanding shares of Portland Paints were delisted from the NGX’s Daily Official List effective, 17 September 2021 in accordance with the terms of the Scheme.”