AMCON Raises capital In Anticipation of Shareholders Action
Category: Mergers & Aquisitions
September 09, 2011 / Lagos
Proshare is able to confirm that the Asset Management Company of Nigeria (AMCON); hitherto known as the ‘bad big bank’ is going to raise its share capital from N3 trillion to N5 trillion to prepare for any eventuality in case the shareholders of te five banks involved in the TIA for an M&A stall the deals to merge the banks.
Recall that some of the un-nationalised banks within the rescued banks cadre had signed a TIA and currently await the outcome of an EGM to conclude the transactions that can change the fortunes of the market.