Neimeth Pharmaceuticals to raise US$13m additional equity for execution of key strategies

NIGERIA – The Board of Directors of Neimeth Pharmaceuticals, a company that is into manufacturing and marketing of pharmaceuticals and animal health products, has revealed plans to raise N5 billion (US$13.11m) in additional equity upon approval by shareholders of the company, reports Nairametrics. The fund will help the company’s management to execute key strategies that will reposition the company as a leader in the healthcare industry, with the hope to deliver better returns on investment to shareholders. The additional equity financing will also increase Neimeth’s outstanding shares, which will dilute…

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