By Dipo Olowookere
New and existing investors interested in buying shares of NPF Microfinance Bank Plc now have the opportunity to do so as the company has commenced its rights issue and public offer.
Recall that in 2018, the company, at its 24th Annual General Meeting (AGM) held in Kano, had expressed its intention to raise fresh capital through a public offering.
A year later, the organisation said the funds, which would be used for the smooth running of the company, would be sourced from rights issue or public offer by creating additional 3 billion shares.
Business Post has now confirmed that the firm is raising the fresh capital via a rights issue and public offer, with 2,286,657,766 units allotted for the former and 713,342,234 units for the latter.
Subscriptions for the NPF Microfinance Bank rights issue and public offer commenced last Thursday and will end this Wednesday. The stock would be sold at N1.50, lower than N1.73 it closed today, Monday, June 28, 2021.
“Trading license holders and the investing public are hereby notified that NPF Microfinance Bank Plc’s rights issue and public offer opened for subscription on Thursday, June 24, 2021, further to the approval of the Securities and Exchange Commission (SEC),” a notice from the Nigerian Exchange (NGX) Limited said.
It was disclosed that under the rights issue, the company will issue one new ordinary share for every one ordinary share held as at May 17, 2021.
Adedapo Adesanya 
Modupe Gbadeyanka