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NSE Okays Zenith Bank's N8.720b Initial Public Offering.
(From Vanguard (Nigeria) - AAGM)
Byline: Peter Egwuatu
THE Council of the Nigerian Stock Exchange (NSE) yesterday, approved Zenith Bank Plc for Initial Public Offer (IPO) to raise the sum of N8.720 billion from the capital market.
The bank had proposed to issue by way of offer for subscription of N800,000,000 ordinary shares of 50 kobo each at N10.90 per share. The fund to be raised would enable the bank boost its financial base and strengthen its operations. The spokesperson of the NSE, Mrs. Yinka Idowu said yesterday that nine Stock brokerage firms have been engaged to market the issue.
The joint stockbrokers to the issue include : Future …
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