Home General News Diamond Bank: No Investment Offer Yet.

Diamond Bank: No Investment Offer Yet.

Diamond Bank Plc said on Friday that it had not receive any investment offer from potential investors.

It said no investors had come forward to put cash into the company.

The bank, which has been managing its capital since 2016 to ensure it stays within the minimum regulatory ratio, said it would consider raising new funds after selling some assets to reinforce its balance sheet.

A statement from the bank read in part, “The Board of Diamond Bank notes the media theory relating to comments ascribed to its former chairman, Mr Oluseyi Bickersteth.

Contrary to such media articles, the board wishes to explain that the company has not received an offer from an investor to inject cash.

We are in active discussions to appoint new board directors and we have the support of our major shareholders, including the Carlyle Group, to ensure successful operations.”

The bank has 61.9 percent free float, while Carlyle owns a 17.75 percent stake, which it bought for $147m in 2014 when the bank was trading at 0.6 times book value as against 0.15 times now.

 

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Arierhi Odjirighohttps://360aproko.com/
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