Lafarge Wapco, Nigeria, to raise NGN 100bn

Lafarge Wapco, the Nigerian subsidiary of French cement producer Lafarge is planning to raise NGN 100 billion (€446.74 million) by issuing debts or shares in local and overseas markets. The company will ask for shareholders to approve the fund raising in July 2014. Lafarge earlier announced plans to merge Lafarge Wapco with its South Africa unit to create Lafarge Africa, an entity worth €988 million, and approval of shareholders is needed. If the merger is successful, Lafarge Wapco's market capitalisa
Quarry Products / June 12, 2014

725 Lafarge Wapco, the Nigerian subsidiary of French cement producer Lafarge is planning to raise NGN 100 billion (€446.74 million) by issuing debts or shares in local and overseas markets.

The company will ask for shareholders to approve the fund raising in July 2014. Lafarge earlier announced plans to merge Lafarge Wapco with its South Africa unit to create Lafarge Africa, an entity worth €988 million, and approval of shareholders is needed.

If the merger is successful, Lafarge Wapco's market capitalisation will exceed US$3 billion (€2.2 billion) and Lafarge Africa will be listed in the Nigerian stock exchange.

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