Nigeria’s
Unity Bank has raised N19.23 billion ($117.4 million) in a share sale to
existing shareholders to bolster its capital position as the central bank
implements stricter international regulations.
The
mid-tier lender sold 38.45 billion shares at 0.50 naira each, the issuing
adviser said on Thursday.
The
issue was oversubscribed and the bank will refund excess subscription monies to
shareholders.
Unity
Bank raised the funds to bolster its capital base and finance working capital,
the adviser said in a notice.
Nigeria’s
central bank has asked lenders to
