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Friday, 6 May 2016

Fashola Tasks Distribution Companies To Raise Capital



The Ministry of Power, Works and Housing, Mr Babatunde Fashola has asked power distribution companies to sell parts of their shareholdings to new investors to raise capital to sustain operations.


Power distribution firms complain of serious financial constraints due to heavy bank loans secured for the privatisation three years ago.

But according to the Minister, some of the options open to the power firms include special placement, offer for sale, initial public offering or bond flotation.

The federal government owns between 30 and 35 percent shares in all the privatised distribution companies.

3 comments:

  1. Selling it again? Hmmm that means Bill will increase for the masses o

    ReplyDelete
  2. Fashola never de function well o. See im head

    ReplyDelete