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Africa   3.95 billion new ordinary shares

Unilever Nigeria to seek approval for $200m share sale

UnileverUnilever Nigeria said it will seek shareholder approval next month to raise 63 billion naira ($200 million) through a rights issue.

The household products maker also said it would seek approval to increase its authorised share capital to 5 billion naira by creating an additional 3.95 billion new ordinary shares of 0.50 naira each.

READ MORE Unilever to invest 200 million euros in Nigeria

The local unit of Unilever plans to seek a vote at a shareholder meeting on May 11, it said in a notice, adding that it would also ask for approval to convert shareholder loans to stock as part of the share sale.




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