By Dipo Olowookere
The application filed by Abbey Mortgage Bank Plc to the Nigerian Stock Exchange (NSE) seeking its approval for the listing of its rights issue has been approved.
The firm had sought the approval of the exchange for the listing of shares from its rights on the trading platform. The application was filed on behalf of the organisation by its stockbroker, Anchoria Investment and Securities Limited.
A regulatory document seen by Business Post revealed that the approval was granted by the stock exchange’s management on Tuesday, October 20, 2020.
Abbey Mortgage Bank is planning to sell to its shareholders a total of 3,692,307,691 ordinary shares of 50 kobo each at 82 kobo each.
The exercise, which has Kairos Capital Limited as the issuing house/financial adviser, is on the basis of four new ordinary shares for every seven ordinary shares held as at the close of business on Thursday, October 8, 2020.
Abbey Mortgage Bank is a primary mortgage bank with a licence from the Central Bank of Nigeria (CBN) to provide banking services in personal savings and investments, cash management, specialized banking, deposit and funds management, children and school account services, real estate and mortgage services, amongst others.
It also engages in loans, mortgages and banking services to corporate and individual customers and the firm said it is passionately involved in providing shelter to its customers being an accredited PMB for the National Housing Fund (NHF) and a subscriber to the recently created Nigerian Mortgage Refinance Company Plc (NMRC).
As at press time, shares of Abbey Mortgage Bank traded flat on the Nigerian Stock Exchange at N1.05 per unit.
