Update shared on24 Jun 2025
Subject: Industrial & Medical Gases Nigeria Plc Sets Sights on Growth with N6.5bn Capital Raise
Industrial & Medical Gases Nigeria Plc (IMG) has taken a bold step toward its long-term expansion strategy by securing shareholder approval to raise N6.5 billion through a rights issue. This move is designed to strengthen the company’s capital base, scale operations, and deepen its market penetration, laying the groundwork for sustainable growth in a competitive sector.
Key Developments and Strategic Moves:
- Rights Issue Approved: The capital raise, endorsed at an extraordinary general meeting in Lagos, signals shareholder confidence in IMG’s vision and leadership. The fresh capital will fund strategic investments in infrastructure, innovation, and operational scale.
- Dividend and Bonus Payouts: In addition to the rights issue, shareholders approved a dividend of N400 million (80 kobo per share) and a bonus issue of 1 new share for every 10 held, reflecting the company’s commitment to rewarding investor loyalty even as it reinvests for future growth.
- Transformation Agenda Underway: Chairman Aminu Ado emphasized the company’s focus on capital investment, market diversification, production expansion, and customer-centric innovation—a multi-pronged strategy aimed at reinforcing IMG’s leadership in the industrial and medical gases sector.
- Robust Financial Performance: Despite macroeconomic challenges, IMG delivered impressive results. Revenue surged 38% to N8.376 billion in 2024 (from N6.064 billion in 2023), while profit after tax nearly doubled to N1.62 billion (from N850 million). These figures underscore strong operational execution and financial discipline.
- Shareholder Endorsement: The rights issue was met with enthusiastic backing. One shareholder, Oladiji Mustapha, praised the board’s stewardship and urged others to support the capital raise, referencing General Theophilus Danjuma’s prior intervention as a turning point in the company’s stability.
Outlook: With a reinforced capital structure, proven profitability, and a clear strategic vision, IMG is positioning itself for a new phase of accelerated growth. The upcoming rights issue not only provides fuel for expansion but also represents a compelling opportunity for shareholders to deepen their stake in a business showing strong momentum.
The market will be watching closely as IMG executes on its transformation plan and leverages its strengthened balance sheet to capture new opportunities across Nigeria’s evolving healthcare and industrial landscape.
Disclaimer
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