Nigerian Breweries (NB) has set up a 100 billion naira ($502 million) commercial paper programme to diversify its funding sources to include non-bank investors, and complement its working capital funding, the brewer said on Wednesday.
Company launches 100 billion naira funding programme
Shares in NB were flat at 146 naira, underperforming the broader index which was up 1.3 percent.
The local unit of Dutch brewer Heineken said the inaugural note issue, which will be traded over the counter, will be launched by Oct. 8, the company said in a filing with the Nigerian Stock Exchange.
($1 = 199.00 naira)
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
How Tinubu transformed from a ‘gaffe master’ to an articulate president
Governors warned not to perish Tinubu's reformation agenda
Tinubu's courageous moves will free Nigerians from bondage - Shehu Sani
NAFDAC seizes 35 cartons of codeine syrup in Anambra raid
Ighodalo denies role in Shaibu's impeachment, claims tarnished reputation
Government is ashamed of its citizens begging in other African countries
Linda Ikeji to pay NBM of Africa ₦30 million for character defamation
Gov Obaseki declares ₦70,000 minimum wage for Edo workers
Newly constructed Ghanaian road with electric pole in the middle sparks concern
ADVERTISEMENT