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  • Nigeria’s version of America’s state owned mortgage refinancing companies ( Fannie Mae and Freddie Mac), known as NMRC or Nigeria Mortgage Refinance Company will by raising N6 billion in new equity capital as part of a N28.5 billion equity issuance programme.
  • According to the NMRC in a statement released today:

“That pursuant to the above resolution, the first series of equity raising under the Equity Issuance Programme be for an amount of up to N6,000,000,000.00 (Six Billion Naira) at a price within a range of N4.50 (Four Naira, Fifty Kobo )-N7.00 (Seven Naira) per share.”

  • The NMRC also gave notice that its 1st Annual General Meeting will hold at the Lantana Hall, EkoHotel & Suites, Victoria Island in Lagos on Monday, 31st August 2015.
  • The NMRC member financial institutions and banks include Sterling Bank Plc, Access Bank Plc, Heritage Bank Plc, Stanbic IBTC Bank Plc, Infinity Trust Mortgage Bank Plc, Homebase Mortgage Limited, FHA Homes Savings & Loans Limited, Aso Savings & Loans Plc, Trust Bond Mortgage Bank, Imperial Homes Mortgage Bank,.
  • Others are Abbey Mortgage Bank Plc, Resort Savings & Loans Limited, Platinum Mortgage Bank Limited, Jubilee Life Savings & Loans Limited, Haggai Savings & Loans Limited, Refuge Home Savings & Loans Limited, New Prudential Building Society, Sun Trust Savings & Loans Limited, Nigeria Police Mortgage Bank Limited and Mayfresh Savings & Loans Limited.
Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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