Article: Nigeria: Honeywell Flour Unveils N18.64 Billion IPO.

Byline: sander03

The board, management and professional advisers of Honeywell Flour Mills at the mid-week appended their signatures to documents necessary for the opening of its initial public offering (IPO) scheduled for between December 3 and 31, 2008.

A total of N18.64 billion is to be raised from the capital market through an offer for subscription of 941.176 million units to the public and 1.252 billion ordinary shares for sale at N8.50.

The approval of the Nigerian Stock Exchanges (NSE) council has been received for the listing of the new company, which started business in July 1985, at the end of the offer.

Addressing the ...

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