The board of AG Leventis Nigeria Plc are in discussion with foreign investor to inject fresh capital into the company business. Vice Chairman of the company Mr Michael Economakis disclosed this to stock broker, market analyst and financial journalist during a fact behind the figures on the floor of Nigerian Stock Exchange (NSE).
Although, he did not disclosed the actual amount the new investor intends to inject into the company. He said the new capital will aid the company in expanding their product portfolio into some richs products with a potential long term technical service partnership with Pick n Pay, one of the two retailers in South Africa. According to him the company plans to go into full large scale farming by 2018.
On its automobile business, he said currently the assembles for Leventis Motors with expansion plans to assemble for other distributors in the region.
The company has forcast a loss before tax of N367 million which is a negative of 197 percent and revenue of N13,965 billion. However, despite the loss in its 2015 audited account the company was able to pay 10 kobo dividend from their reserve.