Lafarge Africa Records 0.40% YTD Gains as Right Issue Closes


Tuesday, January 29,  2019  05:20 PM / Proshare MARKETS      


Lafarge Africa Plc has so far recorded a +0.40% YTD gain in 2019 as the company’s Rights Issue of N89bn closed on January 28, 2o19 after it was extended for a few days from its initial closure date of January 23, 2018. 

A look at the share price performance of WAPCO reflects that it has so far recorded a +0.40% YTD advancement. Also, during the period of the rights issue, the share price moved from N12.45k on Dec 17, 2018 when the Rights Issue opened to N12.50k on Jan 29, 2019 after the Rights Issue. This represents a price appreciation of +0.40%. 

However, the share of WAPCO dropped by -0.79% in the last one week and -76.12% in the last one year.


Graph 1: Lafarge Africa Plc Share Price Movement – Dec 17, 2018 to Jan 29, 2019


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A review of Lafarge Africa’s outstanding shares and Market CAP after putting the just concluded Rights Issue into consideration showed that the company’s shares outstanding will increase to 13.01bn shares from 5.58bn share while its Market CAP will move to N162.63bn from N69.69bn as at January 29, 2019


Table 1: Lafarge Africa Plc – Outstanding Shares and MARKET CAP After The New Rights Issue Into Consideration.

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