UnityKapital Assurance Plc has notified The Nigerian Stock Exchange of the plan by Unity Bank Plc, its major shareholder, to divest the bank’s holdings in UnityKapital Assurance Plc. The divestment of the holdings of the Bank is in compliance with the directive of the Central Bank of Nigeria (CBN) that all banks in Nigeria should divest from non-banking subsidiaries or adopt a holding company structure in the new licensing regime.
Unity Bank Plc has appointed Capital Assets Limited as Financial Advisers in the divestment of the holdings of the Bank in UnityKapital Assurance Plc.
A “Request for Expression of Interest (EOI)” for the sale of the 50.30% equity stake in UnityKapital Assurance Plc by Unity Bank Plc has been prepared for publication by Capital Assets Limited.
Source: NSE
Sir,is this a good news or bad news for those who have shares in Unity Bank?
we cant say for now. They have simply just complied with CBN guidelines