eTranzact International Plc has posted a loss after tax of N182.53million for the first quarter, ended March 31, 2020.This is against a profit after tax of N90.76million recorded, for the corresponding period last year..
According to the firm’s audited report obtained from the Nigerian Stock Exchange (NSE),July 8, its revenue grew to N5.92billion in the first quarter of 2020 compared to the N5.59bn revenue in the same period, in 2019,showing a marginal increase of N330 million.
The payment solution provider however intends to raise fresh capital of almost N7 billion from the stock market via a rights issue.
The Nigerian Stock Exchange said it has been duly informed of this plan by eTranzact and it has notified stockbrokers. The lead stockbroker for the rights issue is Meristem Capital.
The rights issue comprises an offering of 4,666,666,667 ordinary shares of N0.50 each at N1.50 per share, on the basis of 10 new ordinary shares for every nine ordinary shares held, the NSE said.
eTranzact International, is in fiercely competitive payment solution provider market which involves both global and local players such as Visa, Mastercard, Verve, Paypal and Systemspecs/ Remita.
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