MeCure Industries Limited, a leading human pharmaceuticals and nutraceuticals manufacturing company is set to list four billion ordinary shares (4,000,000,000) on Nigerian Exchange Limited (NGX) by introduction at N2.96 per share.
The decision which has been described as another major listing for NGX in the pharmaceuticals industry as the company will add N11.84 billion to the market capitalisation of the Exchange upon its addition to the Main Board.
For more than a decade, the MeCure Industries Plc has tapped into the power of new technology and innovation to advance the practice of medicine.
A statement from NGX say MeCure pioneered the development of novel products based on advances in technology and launched the pharmaceutical industry’s first tablet in a capsule formulation called Liquitab Floatcap. “Today, as a leading healthcare company serving millions of patients, MeCure continues to be an entrepreneurial, technology‐driven enterprise dedicated to helping people fight everyday illness,” the statement said.
“With MeCure listing on the Exchange, NGX further reinforces itself as a platform of choice for corporates looking to raise capital. Already, the Exchange has secured listings from VFD Group, Nigeria Infrastructure Development Fund (NIDF) and Africa Plus Partners in 2023.”
It said NGX continues to strengthen its value proposition for corporates to consider the Nigerian capital market for their fundraising needs, reinventing itself and maintaining advocacy with policymakers and regulators to make listing in the public markets attractive.