{
  "id": 9446577,
  "title": "NASD targets N12bn Rights Issue for growth, infrastructure",
  "url": "https://urgent.news/2026/09/24/nasd-targets-n12bn-rights-issue-for-growth-infrastructure",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T00:24:41.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/nasd-targets-n12bn-rights-issue-for-growth-infrastructure/"
  },
  "original_language": "en",
  "account": "NASD Plc has launched a capital raising initiative to raise N12 billion through a Rights Issue. The objective is to bolster the company's equity, meet regulatory capital requirements, and fund its transformation into a composite exchange structure. The shares on offer are 480 million ordinary shares, priced at N25 each, to be bought by existing shareholders based on a 4-for-5 ratio. The projected net proceeds stand at N11.72 billion after accounting for estimated issue expenses of N275.88 million, provided full subscription by eligible shareholders. The funds will be allocated across three main areas: N3.25 billion for working capital over 18 months, N300 million for cloud trading systems and technological support over 12 months, and N8.17 billion for strategic portfolio investments to support market-development initiatives. The Chairman of NASD, Kenechi Ezezika, emphasized that this capital injection is a significant step towards enhancing operational capacity in the domestic capital ecosystem. The transaction, according to Acting Managing Director and Chief Executive Officer, Arese Ugwu, extends beyond regulatory compliance to positioning the firm for market expansion.",
  "summary": "NASD Plc has commenced a N12bn Rights Issue to strengthen its equity base, satisfy regulatory requirements, and fund its transition into a composite exchan Read More: https://punchng.com/nasd-targets-n12bn-rights-issue-for-growth-infrastructure/",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "NASD targets N12bn Rights Issue for growth, infrastructure",
        "url": "https://urgent.news/2026/09/24/nasd-targets-n12bn-rights-issue-for-growth-infrastructure-9447534",
        "published": "2026-09-24T00:28:40.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}