ABC Transport plans 6.5 billion naira capital raise
By the AFREEQUE newsroom, based on Punch
Nigerian transport company ABC Transport plans to raise 6.5 billion nairas through a rights issue and bonds. The plan, approved by its board, must be submitted to shareholders at the next annual general meeting, according to a notice sent to the Nigerian Exchange.
Nigerian road transport company ABC Transport Plc plans to raise 6.5 billion nairas through a rights issue and a bond issue, subject to shareholder approval. Its board approved the plan at a meeting on 17 October 2026, according to a notice sent to Nigerian Exchange Limited and the public by the company’s secretary-general, Onwe C. Chigbo, reports Punch.
ABC Transport has not said what share of the 6.5 billion nairas would come from issuing new shares and what share would be borrowed from investors through bonds. The amount will be put to a vote at the next annual general meeting, while the company has not specified how the funds will be used.
The trading suspension period prohibits directors and other insiders from buying or selling ABC Transport securities. The restriction will remain in force until 24 hours after the publication of the unaudited financial results for the third quarter, ended 30 September 2026, to the Nigerian Exchange and the public. The notice was published on 21 October from the company’s headquarters in Owerri, Imo State.
