Hans Essaadi Unveils ₦599.1 Billion Rights Issue to Bolster Financial Stability and Minimize FX Losses

In a pivotal moment for the company’s future, Managing Director and CEO Hans Essaadi presented the details behind the ₦599.

1 billion Rights Issue to key stakeholders at the Nigerian Exchange Group (NGX). This initiative is a cornerstone of the company's strategic Business Recovery Plan aimed at minimizing foreign exchange losses, strengthening the financial position, and significantly reducing FX-related debts.

Speaking on the rationale behind this move, Essaadi highlighted that the Rights Issue is designed to improve financial stability and profitability. By addressing the challenges posed by foreign exchange fluctuations, the company aims to create a more resilient and sustainable future for its stakeholders.

This bold step reinforces the company’s commitment to securing long-term financial health, ensuring it remains a leading player in the industry despite prevailing economic headwinds. The strategic initiative is expected to not only mitigate risks but also enhance the company’s capacity to deliver consistent value to its shareholders and other key partners.