ABC Transport Plc is planning to inject additional capital of N1.4 billion into its operations. The capital would be raised through right issue and bond from existing shareholders and the open market.
The directors are seeking the approval of shareholders to raise the capital at the annual general meeting (AGM) of the company slated for November 27, 2020, in Owerri, Imo State.
ABC Transport Plc commenced operation in road passenger transportation on February 13, 1993, as an off-shoot of Rapido Ventures with a view to running a modern road transportation system in Nigeria.
ABC Transport operates luxury bus services according to accepted international standards of road transportation. Its services are specially designed for distinguished travellers who would otherwise use air service.