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AssetCapital N1.6 bn Placement still on

Proshare NI
December 13, 2008 at 10:52 GMT

AssetswiseCapital Limited (AssetswiseCAPITAL) N1.650 billion Private Placement (PP) which has officially ended December 05, 2008 as contained in the Placement Memo made available to Proshare NI in Lagos Nigeria is still on.

This was confirmed to Proshare NI by an official of Access Bank Plc, the Issuing House to the Placement.

“It is true that the Placement on paper has officially ended, but I can assure you that we are still open to select investors who might be willing to take part in it” the official affirmed.

To raise the N1.650 billion, the Private Equity Company is offering to select investors 1.5 billion Ordinary Shares of N1.00 at N1.10 Kobo per.

As earlier reported by Proshare NI, already the company affirms it has an Authorised Share Capital of N2.0 billion comprising of 2.0 Ordinary Shares of N1.00 each. While N500 million comprising of 500 million Ordinary Shares of N1.00 each has been issued and fully paid up.

The company had earlier confirmed that the proceeds of the Placement would be used to recapitalise AssetCAPITAL and increase its working capital.

As at the time of filling in this report, our source at Access Bank, Issuing House to the Placement could not confirm when it would finally come to a close.

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