NicozDiamond rights Offer undersubscribed
By Staff on Dec 21, 2009 with Comments 0
The NicozDiamond rights issue results have shown that they were undersubscribed.
A total of 159 842 772 were offered for the rights which opened on the 16th of November and closed on December 4.
Out of these, only 107 716 387 were subscribed which represent a 67 percent take up rate.
The undewriters of the Rights Issue have been allocated 53 126 365 shares.
The insurance company embarked on the rights issue as it seeks to raise money for capital developments and also improcve on its business.
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