DealMakers AFRICA
Royal Exchange has received approval from Nigeria’s Securities and Exchange Commission (SEC) to conduct the signing ceremony for its proposed Rights Issue of 4,116,296,059 ordinary shares at 50 kobo per share (on the basis of four new ordinary shares for every five ordinary shares held).
NGX-listed Japaul Gold & Ventures Plc has applied to the SEC to raise capital of ₦20,000,000,000 through the issue of 8,000,000,000 ordinary shares at N2,5k each via special placements. The capital would be used primarily to fund the acquisition of a 50% equity stake in H&H Mines, 100% of Covenant Gems & Gold Minerals and the establishment of a gold refinery to maximise value.
Pharmaceutical manufacturing company, Me Cure Industries Plc, listed 4,000,000,000 ordinary shares of 50 kobo each at a price of ₦2.96 per share on the Growth Board of the Nigerian Exchange this week, adding ₦11,84 billion to the market cap of the West African bourse.
Francophone Africa super app, Gozem has acquired a majority stake in Beninese fintech, Moneex. Financial terms were not disclosed, but co-founders Florent Ogoutchoro and Henry Ukoha will retain an equity stake.
Zambian social enterprise, Good Nature Agro has closed a US$8,5 million Series B round from new investor OikoCredit International and existing shareholders Goodwell Investments and Global Partnerships.
Kenya’s I&M Group has received notice that British International Investment Plc had agreed to sells its 10.13% stake in the company to East Africa Growth Holding, an investment vehicle set up by AfricInvest Fund IV, AfricInvest IV Netherlands and AfricInvest Financial Inclusion Vehicle. Financial terms of the deal were not disclosed.
DealMakers AFRICA is the Continent’s M&A publication.
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