One of the foremost financial services institutions, Abbey Mortgage Bank Plc, has announced on the Nigerian Exchange Limited (NGX) its listing of additional shares of 3,692,307,692 ordinary shares of 50 kobo each via a rights issue.
In an official statement from the management of the bank on Sunday, it said, “We are pleased to inform our stakeholders that an additional 3,692,307,692 ordinary shares of Abbey Mortgage Bank Plc. (the Company) were on Wednesday, 16 February 2022 listed on the Daily Official List of the Nigerian Exchange Limited (NGX).”*
“The additional shares listed on NGX arose from the Company’s Rights Issue at 82 kobo per share on the basis of four (4) new ordinary shares for every seven (7) ordinary shares held as at Friday, 8 October 2020.
The latest listing by the bank was confirmed by a circular signed by the Head of Listings Regulation Department at the NGX, Mr Godstime Iwenekhai which stated that, “Trading licence holders are hereby notified that additional 3,692,307,692 ordinary shares of Abbey Mortgage Bank were on last Wednesday listed on the Daily Official List of the Exchange.”
“With this listing, the total issued and fully paid-up shares of Abbey Mortgage Bank Plc. has now increased from 6,461,538,462 to 10,153,846,154 ordinary shares of 50 kobo each.
Also, the mortgage’s bank market capitalization has increased from N6.72billion to N10.56billion as of last Friday when the stock price closed for trading at N1.04 per share.
According to the Managing Director/CEO, Madu Hamman, this is yet another milestone in the refreshed growth roadmap of the bank and we are grateful to the shareholders for the continued trust in the bank, its people and its management. We will continue to make significant effort to develop the sub sector and to become the bank of choice.