Eterna Plc (NGX: ETERNA) has proposed a Rights Issue of Nine Hundred and Seventy-Eight Million, One Hundred and Eight Thousand, Four Hundred and Eighty-Five (978,108,485) ordinary shares of 50 Kobo each at ₦22.00 per share.
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In an Market Bulletin earlier in the week, NGX Regulation notified Trading License Holders that Eterna Plc (the Company) has through its Stockbroker, Planet Capital Limited, submitted an application to Nigerian Exchange Limited for the approval and listing of the Rights Issue.
The Rights Issue will be on the basis of 3 new ordinary shares for every 4 existing ordinary shares held. The Qualification Date for the Rights Issue is Thursday, 27 November 2025.
A rights issue is an invitation from a company to its existing shareholders to purchase additional shares in the company.
At the end of trading on Friday, the share price of Eterna Plc closed at ₦35.50. The Company has 1,304,144,647 outstanding shares and a market capitalization of ₦46,297,134,968.50.
About the Company
Eterna Plc was incorporated in Nigeria Eterna was incorporated on the 13th of January 1989 as Eterna Oil & Gas Limited. It commenced business in 1991. In 1997, it became a public Company. The Company’s shares which are currently quoted on the Nigerian Exchange Limited (NGX) were first listed in August 1998.
The principal activities of the Company and its subsidiaries are trading in crude oil and Condensates; manufacturing, sale and distribution of lubricating oils and petrochemicals; Bulk import and retail distribution of Petroleum Products (including PMS, AGO, ATK, LPFO, Base Oils, Bitumen etc.) and gas.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
