Micro Finance Bank Funding & IPO's

Babajide Komolafe reports that in Nigeria:

Community Banks have commenced moves to raise funds through private placement and initial public offerings (IPOs)...a Chairman of the National Association of Community Banks (NACOBs) David Adenekan, confirmed to the Vanguard that the association in a bid to ensure that its member banks meet the new capital base, has entered into discussions with Fidelity Bank to help community banks in the state raise funds through private placement. He said the arrangement is to package community banks for private placement on individual basis. He disclosed that five banks have already been packaged while five more banks are currently being packaged for private placement.