ABC Transport plans N6.5bn capital raise

Politics Spice Special Features Education Sex & Relationship Interview Columns Opinion Advertise with us ABC Transport plans N6.5bn capital raise Money October 23, 2026 12:02 am ABC Transport Plc

ABC Transport Plc is planning to raise an additional N6.5bn through a rights issue and bond issuance, subject to shareholders’ approval at its next Annual General Meeting.

The transport company disclosed this in a notice to the Nigerian Exchange Limited and the investing public following a board meeting held on 17 October, 2026.

According to the notice signed by the Company Secretary, Onwe C. Chigbo, the board considered and approved the proposed capital raising plan.

The company did not disclose how much of the N6.5bn would be raised through the rights issue or the bond issuance.

A rights issue allows a company to raise funds by offering new shares to existing shareholders, typically in proportion to their current holdings. Bond issuance, on the other hand, enables a company to borrow from investors and repay the funds under agreed terms.

The proposed fundraising would provide ABC Transport with additional capital, although the company did not specify the intended use of the proceeds in the notice.

The board’s resolution remains subject to shareholders’ approval at the company’s Annual General Meeting.

Meanwhile, ABC Transport said the closed period restricting directors and other insiders from trading in the company’s securities would remain in force.

The restriction will end 24 hours after the publication of the company’s unaudited financial statements for the third quarter ended September 30, 2026, to the Exchange and the public.

The notice was issued from the company’s headquarters in Owerri, Imo State, on 21 October, 2026.

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