Company Watch: FCMB Group Plc Is Listed On NSE As A Holding Company

First City Monument Bank (FCMB) Group Plc was Monday listed on the Nigerian Stock Exchange (NSE) as a holding company after completing all regulatory and legal processes required for the setting up of a holding company to manage the bank and its subsidiaries.

A total of 19.041 billion shares of the FCMB Group were listed to replace the bank, which was  the entity listed before now.  Under the holding company structure, shareholding in the  bank were exchanged in the ratio of   one for one  for the  FCMB Group, effectively making the shareholders the owners  of  the group  in the  same ratio as previous holding in the bank.

NSE Lists First Monument Bank Group as Holdco