Proshare is able to now confirm that Cadbury Schweppes Overseas Limited (CSOL) , a subsidiary of Cadbury Plc, the United Kingdom based Global Confectionery company ,is ready to fully take up its Rights Offer.
According to the Rights Offer Document, Cadbury Nigeria is 50.2% owned by Cadbury Schweppes Overseas Limited (CSOL). The balance of 49.98% is held by a highly diversified spread of Nigerian Individual and Institutional shareholders.
This means that Cadbury Nigeria has already N11.14 billion in place.
The rights issue involves 2.57 billion ordinary shares offered to shareholders in the ratio of seven new ordinary shares for every three ordinary shares held as at June 26, 2009.
The new shares are offered at 8.65 per share, a 36 per cent discount on the quoted price of 13.54 and the rights circular for the issue, which contains a provisional allotment letter and the application/renunciation form (available on Proshare Site).
Proshare Analyst Report on Cadbury Nigeria--- Coming Soon