NSE approves Abbey Mortgage Bank’s plan to raise N3b capital




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The management of the Stock (NSE) has approved plan by Abbey Mortgage Bank Plc raise about N3.03 billion new equity its existing shareholders.

The mortgage financial institution be offering 3.69 billion ordinary shares of 50 kobo each at 82 kobo per share. The shares be pre-allotted on the basis four new ordinary shares fr every seven shares held as at October 08, 2020.

Abbey Mortgage Bank had in February 2020 added N2.37 billion its capitalisation through the listing of 2.26 billion ordinary shares of 50 Kobo at N1.05 per share. The new shares arose a placement made VFD Group Plc.

the additional shares, the total issued and fully paid up shares of Abbey Mortgage Bank increased 4.20 billion ordinary shares of 50 kobo each to 6.46 billion ordinary shares of 50 kobo each.

The Nation