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This move aims to strengthen the company’s financial base as it continues its aggressive growth trajectory, buoyed by recent stock gains and strong financial performance.
Excelsior Shipping, linked to Coumantaros, has secured a court order to convene a Court-Ordered Meeting, during which shareholders will vote on the proposed scheme.
The rise in the market value of Coumantaros’ stake in Flour Mills cements his position as a top investor on the Nigerian Exchange.
Since Feb. 6, the market value of Coumantaros’ stake in the leading agro-allied group has plunged by $8.7 million, falling from $77.06 million to $68.36 million.
Coumantaros, the chairman of Flour Mills of Nigeria also ranked as one of the richest investors on the Nigerian Exchange, owns a 63.34-percent stake in Flour Mills.
Coumantaros owns a controlling 63.34 percent stake in Flour Mills of Nigeria through Excelsior Shipping Company.
Coumantaros owns a controlling 63.34-percent stake in Flour Mills of Nigeria Plc through his entity Excelsior Shipping Company.
Coumantaros, a Greek business magnate is among the richest industrialists on the Nigerian Exchange.
Coumantaros owns a majority 63.34-percent stake in the company.