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FCMB offer starts on October 16 at N14


October 10, 2007



The public offer of First City Monument Bank Plc will open next week from October 16 to November 13, 2007 at N14 per unit of shareholding.


All the parties to the offer ascertained and endorsed all relevant documents at the completion board meeting of the proposed offer held in Lagos on Tuesday.


FCMB is offering local investors a total 4.5 billion ordinary shares of 50 kobo each at N14 per share and also offering international investors by way of an unlisted $100m or N12.6bn Global Depository Receipts, resulting in the creation of 900 million ordinary shares of 50 kobo each.


The offer, which is underwritten to the tune of 80%t and packaged by eight leading issuing houses in the country, is targeted at raising from the capital market fresh N76bn.

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