By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Africa Housing NewsAfrica Housing News
Notification Show More
Aa
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
    • About Us
    • Contact Us
    • Join Us
Reading: Infrastructure Bank Joins NASD, Sells Shares at 52 Kobo
Share
Aa
Africa Housing NewsAfrica Housing News
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
Search
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
    • About Us
    • Contact Us
    • Join Us
Have an existing account? Sign In
Follow US
Africa Housing News > Blog > News > Infrastructure Bank Joins NASD, Sells Shares at 52 Kobo
News

Infrastructure Bank Joins NASD, Sells Shares at 52 Kobo

Fesadeb
Last updated: 2021/08/09 at 6:45 PM
Fesadeb Published August 9, 2021
Share
SHARE

NASD Over-the-Counter (OTC) Securities Exchange has announced the admission of the shares of Infrastructure Bank Plc, formerly known as Urban Development Bank of Nigeria Plc, on its trading platform.

Infrastructure Bank Plc, with a market capitalisation of N3.23 billion, dematerialized 6,206,000,000 of its issued shares to be traded on the exchange at 52 kobo per share on August 2, 2021.

With the admission, the company is expected to get more exposure with the public and give investors more stock options and investment opportunities.

The company will trade on the unlisted securities bourse with the ticker SDINFRABANK with its International Securities Identification Number (ISIN Code) NGSDINFRABN5 and has been listed in the red category on the exchange.

The bourse announced that the Securities and Exchange Commission (SEC) codified a rule on trading public unlisted securities in 2014 which declared that only transactions executed on public (SEC registered) platforms are valid.

In line with these rules and in support of enabling liquidity in the market, NASD OTC provides the perfect landing platform for the new admittance.

The Infrastructure Bank Plc, established in 1992 under Decree 51, as Urban Development Bank Limited with the mandate to foster the rapid development of infrastructure across the country, is a provider of bespoke financial solutions that are tailor-suited to the needs of the Nigerian infrastructure market and are further adapted to the dynamics of the projects in which the bank is involved.

It works with development partners which include: federal and state government Ministries, Departments and Agencies (MDAs), other Multilateral DFIs, Deposit Money Banks (DMBs), Private Equity and Pension Funds, regulatory agencies and other stakeholders, the bank provides its portfolio of financial solutions for the development of a diverse array of projects.

The company offers financing solutions which include project financing advisory and arranging, development loans, proprietary equity, fund management, capacity building and technical assistance, and project preparation fund.

It is involved in several projects including the now valued $2.4 billion Lagos Metro Rail Transit (Redline) Project, the $4.9 billion Abuja to Ibadan Expressway Project, the $1 billion Lagos-Ibadan Expressway Project, among other aero and agro-allied projects in the country.

Source: Business Post

You Might Also Like

SDP Zonal Chairman in Kaduna Dies in Road Crash

Swift Action by Oyo Firefighters Prevents Petrol Tanker Explosion

Dowen College Graduates Earn Multi-Million Dollar Scholarships to Study Abroad

Wike Declares End to Rivers Political Crisis, Vows Loyalty to PDP

Tinubu Urges Nigerians in Saint Lucia to Uphold Host Country’s Laws

Join Our Whatsapp Group

Contact Image

Join Our WhatsApp Channel

Housing TV Africa is the First Housing News Television
in Africa on Startimes Channel 149 bringing you
Housing News, Mortgage News, Construction News etc

Fesadeb August 9, 2021 August 9, 2021
Share this Article
Facebook Twitter Email Print
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

© Africa Housing News. All Rights Reserved 2024

Welcome Back!

Sign in to your account

Lost your password?