Latest news with #rightsissue
Zawya
5 days ago
- Business
- Zawya
Nigeria: UBA to raise $102mln via rights issue to boost capital base
United Bank for Africa Plc (UBA) has announced plans to raise N157 billion through a rights issue. According to the News Agency of Nigeria (NAN), the disclosure was made via a notice to the Nigerian Exchange Ltd (NGX). It said in a statement on Thursday that its stock brokers, United Capital Securities limited., had submitted an application to the Nigerian Exchange limited. to that effect. It added its stock brokers had requested for approval and listing of a Rights Issue of 3,156,869,665 ordinary shares of 50 Kobo each at N50.00 per share 'Trading License Holders are hereby notified that United Bank for Africa Plc, through its Stockbrokers, United Capital Securities Ltd., has submitted an application to the Nigerian Exchange Ltd.' in that regard. 'The rights issue will be on the basis of one new ordinary share for every 13 ordinary shares held as of the close of business on Wednesday, July 16, 2025. 'The qualification date for the Rights Issue is July 16, 2025,' the bank noted. The move is part of UBA's strategy to strengthen its capital base and support its expansion and growth objectives across Africa.
Yahoo
03-07-2025
- Business
- Yahoo
Dustin Group AB (STU:9DG) Q3 2025 Earnings Call Highlights: Navigating Challenges with ...
Revenue: SEK5,089 million, with an organic growth of 2.9%. Gross Profit: SEK680 million, down from last year's SEK821 million. Gross Margin: 13.4%, compared to last year's 15.0%. Adjusted EBITA: SEK72 million, down from SEK130 million last year. EBITA Margin: 1.4%, compared to last year's 2.4%. Cash Flow from Operating Activities: SEK139 million, compared to last year's SEK454 million. Leverage: Reduced to 4.3% from 6.0% last quarter. SGA Expenses: Decreased by 14%, excluding Forex impact decreased by 11%. Number of FTEs: Reduced by 150 or 7% compared to the same quarter last year. Net Proceeds from Rights Issue: Approximately SEK1,240 million. Inventory Levels: SEK1,098 million, above preferred levels. Net Working Capital: SEK261 million, higher than last year's minus SEK205 million. Warning! GuruFocus has detected 6 Warning Signs with STU:9DG. Release Date: July 02, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Dustin Group AB (STU:9DG) achieved an organic sales growth of 2.9% in Q3, with stabilization observed in the SMB market. The company successfully completed a rights issue, reducing leverage from 6.0% to 4.3%, which strengthens its financial position. Cost efficiency measures have been effective, with SGA expenses decreasing by 14% and a reduction of 150 full-time employees, contributing to improved cost structure. The strategic decision to exit the consumer market and focus on B2B is expected to enhance strategic focus and operational efficiency. Standardization of services in the Nordics has shown clear margin support, with plans to extend this initiative to other regions for further benefits. Gross profit decreased to SEK680 million from SEK821 million last year, primarily due to lower gross margins. Adjusted EBITA fell to SEK72 million from SEK130 million, with a reduced EBITA margin of 1.4% compared to 2.4% last year. The Netherlands market faced significant challenges, with price competition leading to a 20% year-over-year sales drop. Cash flow from operating activities decreased significantly to SEK139 million from SEK454 million last year, impacted by increased inventory and delayed payments. The Benelux region experienced a negative margin effect of 1.7%, driven by low-margin new contracts and price competition in the Netherlands. Q: On the agreement and lower profitability in the Netherlands, are these entirely new contracts, or are they contracts being renewed with lower pricing points? A: Johan Karlsson, CEO: They are a combination of new and renewed contracts, primarily linked to frame agreements with mini tenders. The market's small volumes have led to high price competition. Q: Do you see any gap from the refresh cycle on the LCP side, and when might this trend pick up? A: Johan Karlsson, CEO: We see signs of renewal, but market uncertainty blurs the picture. Some customers are delaying investments, but we expect increased activity from Microsoft and PC vendors to drive changes. Q: Are there any temporary headwinds for margins due to Microsoft license agreements renewal? A: Johan Karlsson, CEO: While we lose on enterprise agreements, moving to cloud-based licenses offers better compensation. It's a trade-off, but overall, we expect it to be relatively neutral in the coming quarters. Q: What is driving the 10% year-over-year increase in Swedish sales in Q3? A: Julia Lagerqvist, CFO: The main driver is activities within the defense sector on the public side, although there are positive signs in larger SMB segments as well. Q: What is your turnaround plan for the Dutch market, and are you considering structural changes in Benelux? A: Johan Karlsson, CEO: We are building the SMB online business in the Netherlands and adding value through product life cycle services. In Belgium, we aim to grow market share through public tenders, improving the overall Benelux situation. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Zawya
01-07-2025
- Business
- Zawya
Saudi ACWA Power prices rights issue at $56 per share
Saudi utility giant ACWA Power is undertaking a rights issue to increase its share capital by 7.12 billion riyals ($1.9 billion) at an offer price of SAR 210 ($56) per share. The company will sell nearly 34 million new shares to take its post-offering number of shares to over 766 million. ACWA Power had said last month that the rights issue may include a rump placement to ensure full subscription. SNB Capital, J.P. Morgan and Citigroup Saudi Arabia are the joint financial advisors for the rights issue. The rights issue will support ACWA Power's growth strategy, which includes tripling its assets under management by 2030 and strengthening its financial position. It has allocated 53% to 60% of the proceeds for spending in the Middle East and North Africa (MENA), according to Zawya Projects. (Writing by Brinda Darasha; editing by Seban Scaria)
Argaam
24-06-2025
- Business
- Argaam
Tihama shareholders approve amending use of rights issue proceeds
Tihama Advertising and Public Relations Co.'s (TAPRCO) shareholders approved the board of directors' recommendation to amend the use of proceeds from the SAR 350 million rights issue, during the general meeting, held on June 23, according to a statement to Tadawul. The amendment will align with what was previously disclosed, the statement added. In September, Tihama board of directors approved the amendment to the use of the offering proceeds. Below is a table summarizing the changes in the proceeds allocation (SAR million): Tihama confirmed that the revised allocations aim to optimize the use of proceeds in line with the company's strategic goals.
Free Malaysia Today
16-06-2025
- Business
- Free Malaysia Today
I opposed rights issue to develop Sapura Permata tower, Shahriman tells court
Shahriman Shamsuddin wants the High Court to wind up Sapura Holdings Sdn Bhd, citing a breakdown of mutual trust and confidence with elder brother Shahril. KUALA LUMPUR : Sapura Holdings Sdn Bhd director Shahriman Shamsuddin told the High Court today he took no action to implement a rights issue aimed at funding the Sapura Permata tower because he opposed the move. Cross-examined by S Rabindra, representing elder brother Shahril, Shahriman admitted not taking any steps despite a decision by the Sapura Resources Bhd (SRB) board to proceed with the exercise on Sept 29, 2022. Shahriman was SRB's managing director at the time. Rabindra: Do you agree that the minutes of meetings (held between September 2022 and March 2023) do not reflect or capture any initiative or statement from you to ensure the rights issue was carried out? Shahriman: I was against the rights issue. Rabindra: So you were against the rights issue, therefore you didn't say anything about getting it done? Shahriman: Correct. In his petition, Shahriman said that on March 16, 2023, Shahril, acting on behalf of Sapura Holdings, had informed SRB that the company's RM100 million financial assistance offer, outlined in a term sheet dated Feb 28, 2023, had lapsed after it was not taken up. As a result, SRB was required to immediately repay a previous advance of RM40 million, made on Sept 29, 2022, along with interest and associated costs. In the petition, Shahriman accused Shahril of using the RM100 million loan to pressure SRB into carrying out the rights issue. In court, Shahriman disagreed when Rabindra suggested that Shahril was acting on behalf of the Sapura Group, and not in a personal capacity. Rabindra: Indera Permai Sdn Bhd (which advanced the funds) and the Sapura Group were entitled to protect themselves by insisting that SRB carry out what it had promised to do, or else repay their obligation in financial terms. Do you agree? Shahriman: Disagree. Rabindra: I put it to you that in the totality of the circumstances, Sapura Holdings, Indera Permai and the Sapura Group were purely, simply and plainly protecting their own position. Do you agree with this statement? Shahriman: Disagree. Shahriman is seeking to wind up Sapura Holdings, the parent entity of over 40 subsidiaries valued at RM832 million, including the publicly listed SRB. Both Shahril and Shahriman hold a 48% stake each in Sapura Holdings, with the remaining 4% owned by Rameli Musa, who is also named as a respondent. In the petition filed last September, Shahriman claims that an irreparable breakdown of mutual trust and confidence between him and Shahril necessitated the dissolution of Sapura Holdings. However, Sapura Holdings, Shahril and Rameli are opposing the petition, contending that the company was never intended to be a family business and that dissolution would be neither just nor equitable. The hearing before Justice Leong Wai Hong continues.
