By Michael Eboh
Kajola Integrated Investment Plc has indicated its readiness to further shore up its capital base through a capital raising exercise that will be undertaken next year.
This was after the successful completion of its private placement which was conducted in 2008. The company sought to raise N2.6 billion from the capital market through a private placement held last year. The offer recorded a 45 per cent success rate.
Speaking at a forum heralding its forthcoming annual general meeting scheduled to take place December 14, Chairman of the company, Professor Wale Omole disclosed that the decision to raise additional funds from the capital market is parts of strategy to invest in viable projects across various sectors of the economy.
He said, â€œAs a company, we are looking forward to create and also seize investment opportunities in the nearest future to concretise the companyâ€™s shareholders reward system. To this end, the company intends to raise more funds in order to finance some identified lucrative projects in the incoming year.
â€œWe shall invest aggressively in the agricultural and eco-tourism activities given avalanche of untapped potentials that abound in the sector.
We shall explore industrial synergies through public/private partnership models, especially in infrastructural development, Small and Medium scale Enterprisesâ€™ financing and invest more in our KJL Microfinance Bank to empower the active poor towards raising their businesses.â€
Omole expressed its commitment to the development of the Nigerian economy, by investing in sectors of the economy that will be beneficial to a vast majority of the grassroots populace.