About N30 billion is expected to be raised by C&I Leasing Plc through a combination of corporate bond issuance and equity to refinance debt owed by the company.
Proceeds from the exercises will also be used by the organisation to execute its business expansion plans, a notice signed by the company secretary, Mbanugo Udenze & Co, stated.
The board of the firm approached shareholders of the company for authorisation to raise the funds and this request was granted at the Annual General Meeting (AGM) held last Monday, September 8, 2025.
“The board of directors is hereby authorized to take all necessary actions to raise N15 billion in corporate bond for business expansion and debt refinancing.
“The board of directors is hereby authorized to take all necessary actions to raise N15 billion in equity for business expansion and debt refinancing,” parts of the resolutions passed at the meeting read.
Also at the AGM, the board was allowed to acquire a majority stake in Leasafric Logistics Limited, a company based in Ghana.
“The directors be and are hereby authorized to invest in Leasafric Logistics Ltd and purchase a direct ownership of 71.15 per cent (representing 711,500 units of ordinary shares) of the shares in Leasafric Logistics Ltd. The investment shall be funded from C & I Leasing PLC’s portion of the dividend declared by Leasafric Ghana PLC for the financial year ended 2023,” the shareholders said.
The investors also approved the payment of a 10 Kobo dividend proposed by the board for “shareholders whose names are registered in the register of members as at the close of business on the 5th day of August 2025.”