Crown Nature plans to raise N1.65bn from capital market
March 29, 2017 - Nigeria
Nigeria based manufacturer of apparels and garment accessories Crown Natures Plc, is mulling raising N1.65 billion, from the Nigerian capital market to fund its three year expansion and optimisation plan. This was informed by Crown Natures CEO Omolara Aromolaran at the NASD OTC Exchange analyst call session with investors in the industry.
According to Aromolaran, Nigeria currently spends $4 billion per year on importing textiles and clothing, which offers an opportunity for companies like Crown Nature, to grab a good market share.
Crown Natures manufactures various products like caps, hats, aprons, innerwear, apparel, school uniforms, etc and currently employs around 300 people. (AR)