To meet the minimum capital requirement of =N= 25 Billion (US $185 Million) instructed by the Central Bank of Nigeria (CBN) , a three phased approach was adopted.
The First was The Initial Public Offer of =N= 2.5 Bn (US $ 18 Million ). This was over subscribed by 120%.
The Second phase is the on going Private Placement of =N=10 Billion (US $ 75 Million).
The Third phase will be the Public Offer of =N=13 Bn (US $ 96.2 Million).
The Private Placement Memorandum for the =N= 10.5Bn (US $ 96.2 Million) can be viewed/downloaded from the link below.