Shares of PZ Cussons Nigeria PLC have surged over 24% so far in February 2025, climbing from an opening price of N23 to N29 as the company attempts to recover from a pullback in 2024.
Recently, the Board of Directors of PZ Cussons Nigeria PLC resolved to convert $34.26 million of its outstanding loan into equity, aiming to reduce debt and fortify the company’s balance sheet.
This amount is part of a $40.26 million loan provided by its parent company, PZ Cussons Holdings Limited, in 2022 to help manage rising raw material and operational costs, which increased further due to the devaluation of the naira.