SIM Capital Alliance floats IPO for N5bn value fund

The unit trust segment of the Nigerian capital market is set to be boosted by SIM Capital Alliance Limited (SimCap), a joint venture between Capital Alliance and Sanlam Investment Management Limited. Specifically, SIM Capital Alliance Limited has concluded arrangements to float a N5 billion SIM Capital Alliance Value Fund by issuing 50 million units of N100 each at N103.50 by way of initial public offering (IPO). Stanbic IBTC Bank plc is the issuing house to the IPO, which is expected to open ...
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Added July 07, 2010
from Businessday Nigeria