Flour Mills formally applies for US$111 million in rights issue

NIGERIA - Flour Mills of Nigeria Plc at the weekend submitted formal application to the Nigerian Stock Exchange (NSE) seeking to raise N39.9 billion (US$111 million) in new equity funds from existing shareholders. A regulatory filing at the NSE at the weekend indicated that Flour Mills of Nigeria plans to raise N39.85 billion through a…

Flour Mills of Nigeria begins raising US$194m in rights issue

NIGERIA – Flour Mills of Nigeria has announced it would commence the process of raising additional capital through the rights issue and medium term notes (MTN). The company, following high bank charges, had been paying on borrowings, which drove costs of finance upwards for many years, It has authorised directors to raise up to US$110…

Flour Mills of Nigeria launches wheat-cassava composite flour

NIGERIA – In actualisation of the federal government’s cassava transformation agenda and the cassava inclusion policy in bread flour, Flour Mills Plc has introduced a new product in the baking segment with the launch of Golden Penny Multi-purpose flour, a bread and baking flour, which is a combination of wheat flour and 10 per cent high quality cassava flour.

Flour Mills of Nigeria launches wheat-cassava composite flour

NIGERIA – In actualisation of the federal government’s cassava transformation agenda and the cassava inclusion policy in bread flour, Flour Mills Plc has introduced a new product in the baking segment with the launch of Golden Penny Multi-purpose flour, a bread and baking flour, which is a combination of wheat flour and 10 per cent high quality cassava flour.