Proshare Logo
   Market Date: 29-01-2015   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Elections Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

GDR: Diamond Bank sets offer price at $13.30

Category: Public Offers Private Placements

  Read (2155)
GDR: Diamond Bank sets offer price at $13.30

December 13, 2007/Punch


Diamond Bank Plc has set its offer price per Global Depository Receipt, listed on the Professional Securities Market of the London Stock Exchange, at $13.30.


A statement from the bank on Wednesday said that $13.30 per GDR offer price, resulted in a market capitalisation for Diamond Bank of approximately $1,750m.


The offer also raises gross proceeds of approximately $500m, which comprises a total of 37.6 million newly issued GDRs, with one GDR representing 100 shares, the bank said.


It stated that the GDRs, would be listed on the LSE under the symbol DBG and that the conditional dealing was expected to commence on the International Order Book of the LSE on December 11, 2007.


“The GDR investors will own approximately 28.6 per cent of the enlarged issued share capital of the bank before allowing for shares sold,†it explained.


Diamond Bank plans to use the net proceeds of the offering to fund the expansion and refurbishment of its branch network, roll out new ATMs throughout Nigeria; enhance alternative distribution channels, including call centre and other e-banking channels, develop and enhance its information and technology infrastructure and software.


The bank said Morgan Stanley & Co. International plc had been appointed as Global Co-ordinator and Sole Bookrunner of the offering.


Vetiva Capital Management Limited is acting as domestic co-ordinator and Joint Domestic Underwriter.


Diamond Bank Group offers a wide range of financial services and products throughout Nigeria. Historically, the group has focused on banking small and medium-sized companies in Nigeria, with a particular strength in trade finance.


Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on Public Offers Private Placements

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014