Abbey Mortgage Bank Lists Shares from Rights Issue on Stock Exchange
By Dipo Olowookere
The shares allotted to shareholders and investors who bought the rights issue of Abbey Mortgage Bank Plc have been listed on the Nigerian Exchange (NGX) Limited.
The stocks, a total of 3,692,307,692 units, were listed on the exchange on Wednesday, February 16, 2022, and have now increased the total issued and fully paid up shares of the firm to 10,153,846,154 ordinary shares of 50 kobo each from 6,461,538,462 ordinary shares of 50 kobo each.
Recall that recently, Abbey Mortgage Bank sold the rights issue to shareholders at 2 kobo per share on the basis of four new ordinary shares for every seven ordinary shares held as at Friday, October 8, 2020.
Through the exercise, the bank raised about N3 billion, raising its capital base to N6 billion.
Yesterday, the company listed the new equities on the bourse and this was confirmed by a circular signed by the Head of Listings Regulation Department at the NGX, Mr Godstime Iwenekhai.
“Trading license holders are hereby notified that additional 3,692,307,692 ordinary shares of Abbey Mortgage Bank Plc were on Wednesday, February 16, 2022, listed on the daily official list of the Nigerian Exchange Limited.
“The additional shares listed on NGX arose from the company’s rights issue at 82 kobo per share on the basis of four new ordinary shares for every seven ordinary shares held as at Friday, October 8, 2020.
“With this listing of the additional 3,692,307,692 ordinary shares, the total issued and fully paid-up shares of Abbey Mortgage Bank Plc have now increased from 6,461,538,462 to 10,153,846,154 ordinary shares of 50 kobo each,” the notice stated.