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.
