NCB Financial Group Limited (NCBFG) Announces Plans for Additional Public Offering

  • The Board of Directors of NCB Financial Group Limited on September 8, 2023, decided that an Extraordinary General Meeting should be held for the company to consider an additional public offering (APO) of new ordinary shares.
  • The number of shares sought to be issued by way of APO is expected to be up to 300 million. The NCB Financial Group stock closed Monday's trading session at $70 per share. If the offer were to be floated at that price, the company would be looking to raise up to $21Bn.
  • There was no information suggesting what the funds be used for, however, the company will in due course issue a notice regarding arrangements for the extraordinary general meeting.

(Source:  JSE)