Nigeria mortgage agency to seek approval to raise fresh capital

August 10, 2015 2:56 PM

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LAGOS Aug 10 Nigeria Mortgage Refinance Company (NMRC) will seek approval from members by month-end to raise additional equity capital of 28.5 billion naira ($143 million) through a shelf registration programme, the state-backed mortgage agency said on Monday.

NMRC set a price range of 4.50 to 7 naira per share for the first series of equity to be raised under the programme worth 6 billion naira.

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