“Chams Corporation Rebrands and Secures N3.99 Billion Rights Issue for Fintech Expansion Amid Profit Surge”

Chams Holding Company Plc’s shareholders approved a rebranding to Chams Corporation PLC and a N3.99 billion rights issue at their Annual General Meeting in Lagos. This aims to bolster finances for expansion in Nigeria’s digital economy. The company reported 42% revenue growth to N14.5 billion in 2024 (from N9.5 billion in 2023) and a 218% profit surge to N1.3 billion. The rights issue offers one new share per two held at N1.70, targeting N3.992 billion for growth. Endorsements include restructuring and potential mergers to enhance efficiency in fintech, banking, and payments.

References

“Chams Shareholders Approve New Capital Raising” – The Nation Online NG (https://thenationonlineng.net/chams-shareholders-approve-new-capital-raising/amp/), published July 2024.