Abbey Mortgage Bank Shops for N2.954bn via Rights Issue

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Goddy Egene

Abbey Mortgage Bank Plc is shopping for N2.954 billion from existing shareholders through a right issue. The company is issuing 3,692,307,691 ordinary shares of 50 kobo each at 82 kobo per share on the basis of four new ordinary shares for every seven ordinary shares held as at 8 October 2020. The issue opened on Monday, January 4 and is expected to close on February 11, 2021.