MeCure Industries to Raise ₦30 Billion, Expands Pharma Mandate Following Shareholder Approval

MeCure Industries Plc has received shareholder approval to raise up to ₦30 billion in fresh capital as it looks to deepen its presence in Nigeria’s pharmaceutical and healthcare sectors. The resolution was passed during the company’s Extraordinary General Meeting (EGM) held virtually on May 14, 2025.

According to the resolution, the company plans to issue up to 2.5 billion ordinary shares through a variety of options, including public offerings, rights issues, and private placements, either in naira or foreign currency. The offer price will be determined through book building or other acceptable valuation methods, subject to regulatory approvals.

In tandem with the capital raise, shareholders also approved amendments to the company’s Memorandum of Association, allowing MeCure to significantly broaden its operational scope. The updated object clauses now empower the company to manufacture, process, and trade a wide range of pharmaceutical and healthcare products including vaccines, nutraceuticals, surgical instruments, cosmetics, and veterinary medicines.

The revised mandate also includes activities such as contract manufacturing, R&D, and distribution of pharmaceutical products—positioning MeCure for expanded influence in both domestic and international markets.

The board of directors has been authorised to allot new shares, update the company’s capital structure, and amend its constitutional documents accordingly.

This strategic move marks a pivotal shift in MeCure’s long-term growth ambitions, aligning with increased investor interest in Nigeria’s healthcare sector amid rising demand for local pharmaceutical manufacturing and more resilient medical supply chains.