The N3.992 billion rights issue of Chams Plc earlier scheduled to close on Friday, September 12, 2025, has now been extended by two weeks.
The company secured the approval of the Securities and Exchange Commission (SEC) to stretch the deadline of the exercise by 10 working days, a notice from the Nigerian Exchange (NGX) Limited said.
With this development, the rights issue of Chams will now end on Friday, September 26, 2025, the circular signed by the Head of Issuer Regulation Department of the bourse, Mr Godstime Iwenekhai, stated.
“Trading licence holders are hereby notified that Chams Holding Company Plc has obtained the approval of the Securities and Exchange Commission (SEC) to extend the period of the rights issue by 10 working days.
“Consequently, trading in the company’s rights will now close on Friday, September 26, 2025,” a part of the disclosure read.
The publicly-listed firm is offering to shareholders a total of 2,348,030,000 ordinary shares of 50 Kobo each at N1.70 per unit on the basis of one new ordinary share for every two ordinary shares held as at the close of business on Wednesday, June 16, 2025.
The exercise commenced on Friday, August 8, 2025, and has been enjoying the attention of investors.
It is believed that the extension of the deadline was to allow for more shareholders to take their rights in the organisation, as the company is poised for renewed growth because of what the board intends to use proceeds from the rights issue for.
According to Chams, funds from the exercise will be used to improve the operational capacity of the organisation and drive innovation across its identity management, transaction switching, and payment solutions businesses.