Chams Holding Company Plc has concluded arrangements to raise N3.992 billion from the Nigerian capital market through a rights issue aimed at strengthening its capital base and funding its operations.
This was stated in a market bulletin issued by the Nigerian Exchange Limited (NGX) stated that, the company has submitted an application for the approval and listing of 2.348 billion ordinary shares of 50 kobo each at N 1.70 per share under the rights issue.
The offer will be made on the basis of one new ordinary share for every two ordinary shares held by existing shareholders as of the close of business on June 16, 2025, he stressed.
Chams Holding Company in its unaudited financial statements for the year ended December 31, 2024, reported a 218 percent increase in its after-tax profit driven by increased demand.
This is despite macroeconomic headwinds that dealt a blow and ruffled many companies’ balance sheet last year, demonstrating the over three decades firm’s resilience amid pressures.
The company reported an after-tax profit of N1.3 billion in 2024 from N407.6 million recorded in 2023. This growth underscores Chams Holding’s strategic initiatives and operational efficiency, contributing to a robust bottom line. In revenue, the company reported a 53 per cent increase, rising from N9.47 billion in 2023 to N14.51 billion in 2024.
The company said it has continued to invest heavily in technology and financial services, positioning itself for further expansion in Nigeria’s growing digital economy, saying that the company’s investment in agency banking, mobile money operations, and payment systems solutions aligns with its strategy to deepen financial inclusion and leverage fintech opportunities.
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