Lagos - Diamond Bank will be approaching regulatory authorities for clearance to float a rights issue to meet its future capital requirement.
The bank is planning to raise between $300 million and $400 million via a rights issue from existing shareholders, reports ThisDay.
Abdulrahaman Yinusa, the bank’s Chief Finance Officer, said the rights issue will further strengthen the capital base of the bank.
The bank had won shareholder approval in April to raise fresh capital in debt and equity.
Read more at ThisDay.
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