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  • Atricle Dump - Nigerian Bank Applies To Raise Funds From Capital Market

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    As a result of th

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    First Bank applies to raise N99.3bn from capital market

    First Bank of Nigeria Plc on Tuesday began the process of raising fresh funds from the market with an application to the Nigerian Stock Exchange. The bank applied to offer 1.6billion ordinary shares of 50 kobo each to be sold at N33 per share for public subscription and 1.5billion ordinary shares of 50 kobo each at N31 per share as Rights Issue to existing shareholders.

    As a result of the

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    Tuesday began the process of raising fresh funds from the market with an application to the Nigerian Stock Exchange. The bank applied to offer 1.6billion ordinary shares of 50 kobo each to be sold at N33 per share for public subscription and 1.5billion ordinary shares of 50 kobo each at N31 per share as Rights Issue to existing shareholders.

    As a result of th

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    Nigerian Stock Exchange. The bank applied to offer 1.6billion ordinary shares of 50 kobo each to be sold at N33 per share for public subscription and 1.5billion ordinary shares of 50 kobo each at N31 per share as Rights Issue to existing shareholders.

    As a result of th

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    h to be sold at N33 per share for public subscription and 1.5billion ordinary shares of 50 kobo each at N31 per share as Rights Issue to existing shareholders.

    As a result of th

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    obo each at N31 per share as Rights Issue to existing shareholders.

    As a result of the application, the NSE has placed the share price of First Bank on technical suspension at N40.40 per share. This implies that throughout the period of the offer, trading in the shares on the floor of the exchange would be done at N40.40.

    Besides, prospective subscribers to the public offer at N33 would be enjoying a discount of N7.40, while investors that wou

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