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Unity Bank extends rights issue offering by two weeks

Category: Capital Market

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Unity Bank extends rights issue offering by two weeks

Friday, 16 Jul 2010   

Unity Bank Plc has said it has secured an approval of the Securities and Exchange Commission to extend its rights issue offering by two weeks.The bank said in a statement in Lagos on Wednesday that the closing date for the offering would now be Tuesday, July 27.

The News Agency of Nigeria reported that the bank had on June 4 offered 23.93 billion ordinary shares of 50 kobo each at N1.00 per share to shareholders and was to close on July 13.The bank said that the right issue would be allotted on the basis of three new shares for every two ordinary shares held by shareholders as at April 27, 2010.

The statement advised shareholders who had applied to contact Diamond Registrars Limited, registrars to the offering, to take advantage of the extension to take up the offering.

NAN recalls that the bank’s Chairman, Prof. Akinlawon Mabogunje, had at the completion board meeting of the offering in Abuja explained that the offering was aimed at reducing public sector holding in the bank.


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