Wapco To Raise N75 Billion Fresh Funds

Lafarge Cement Wapco Nigeria Plc is to raise N75 billion fresh funds through a hybrid offer of raising of debt and/or issuance of Equity not exceeding the number of un-issued shares in the company’s authorised share capital.

This was contained in a notice of Annual General Meeting (AGM)  and signed by Viola Bob-Manuel, Company Secretary/Head, Corporate Services of the company.

The company will deploy the amount in fulfilling its capacity expansion project to build one new production line which shall increase Lafarge Cement annual cement production capacity by approximately 2 million tonnes.

Though as at the time of filling in this report, Proshare NI visited the company to obtain its current audited financial result for the year ended December 31, 2007 but was told that is not yet available.

The company has slated its AGM for May 23, 2008 in Lagos Nigeria.


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