TrippleG Price Dips after Capitalisation of Bonus Issue

The Nigerian Exchange (NGX) has cut TripleG market price to size as the company fund additional shares issued to shareholders from reserves.

The company offered shareholders one extra shares on every ordinary shareholding.  In the equities market, TrippleG share price slumped by about 60% last week following the bonus issue capitalisation.

 Data from the Nigerian Exchange (NGX) showed that TrippleG share price fell to N2.01 on Friday, from N4.97 at the beginning of the week.

The company said in its annual general meeting notice that the board will be seeking shareholders’ approval to use N247.476 million from reserves to capitalise issuance of 494,953,200 ordinary shares shareholders on members register as of Oct 4.

At the end of trading session on Friday, Its 989.908 million shares outstanding were valued at less than N1.99 billion in the equities market.

The company share fell consecutively over four trading sessions and traded steady on Friday at N2.01. # TrippleG Price Dips after Capitalisation of Bonus Issue

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