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Following the need to expand its business frontier, the management of Neimeth International Pharmaceuticals Plc, yesterday considered moves to fresh capital from the Nigerian capital market to boost its working capital.
The Managing Director/CEO, Neimeth International Pharmaceuticals, Valentine Okelu, at a media parley in Lagos disclosed that the decision to raise fresh capital is not ruled out as the management of the company will be having a strategy session in less than one month to decide on its possibility.
“The decision to raise fresh capital is not ruled out. But in less than one month, we’re going to be having a strategy session with all the board members where we’ll have to sit down and share all the strategies we currently have apart from our future, \expansion plans and among others.
“And then we’ll be able to decide what we need, whether we’re going to be going to the capital markets to raise capital or whatever we need to do,” he explained.
He revealed that the company is implementing strategic measures to reverse a N2.03 billion foreign exchange loss incurred in 2024 as part of efforts to stabilize its financial position and sustain growth.
Okelu, highlighting plans to restructure foreign-denominated loans, convert them into naira, and negotiate extended payment terms to ease financial strain.
“We are aggressively restructuring our foreign-denominated loans, converting them into naira to shield us from further forex volatility
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