Partnership Investment to list at N4 per share

Proshare

March 01, 2008

 

Partnership Investment Company Limited would list its shares on the floors of the Nigerian Stock Exchange (NSE) at N4.00 per ordinary share of 50 Kobo each. Victor Ogiemwonyi, Managing Director (MD) of the company disclosed this to Proshare N/I.

 

Ogiemwonyi says that at N4.00 per share, if an investor put in the sum of N200, 000 this February, by August 2008 his Return on Investment (ROI) would be N600, 000 indicating a 200 percent ROI. “All we are doing in Partnership Investment is to create a market around the stock” he said.

 

 

While speaking on the ongoing Private Placement of the company, he disclosed to Proshare N/I that already the company has currently raised over N1.0 billion. “We are hoping to raise N3.0 billion at the end of the Placement” he said.

 

 

He further disclosed to Proshare N/I that there would be an allotment of 100 percent by March, 2008 when application list for the placement would have closed. “Those investors who put in N200 million would receive full allocation, while those that invested N250 million, it would become an issue of first come first serve basis” he said.

 

 

Ogiemwonyi told Proshare N/I that Partnership Investment have a customer base of over 20,000 “there is a need to appreciate people who have stood by us, therefore the bid chunk of the money should go to them” he said.

 

 

 

By June 2008, we are going to issue to our shareholders a bonus of 1 for 2 shares held with the company, “it is going to be strictly for our shareholders” Ogiemwonyi said. 

 

The company is seeking to raise fresh funds by offering 1.5 billion ordinary shares of 50 Kobo each at N2.00 per share. Issuing houses/Arrangers of the placement which closes March 12th, 2008, include UBA Global Markets, ECOBANK Plc and FBN Capital Limited.

 

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