Oceanic Bank Plc floats Vintage Fund
November 21st, 2006 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
In this era of banking in Nigeria where innovation, creativity and customer satisfaction remains paramount, Oceanic Bank has scored another plus by floating a mutual fund/unit trust scheme called The Vintage fund.
The vintage fund is created for many discerning investors/ customers, both existing and prospective that are seeking to invest their money in a guaranteed financial instrument with minimal risk.
The vintage fund has been authorized and registered in Nigeria. The bank is offering 2 billion units (i.e. 2,000,000,000) of N1.00 each at par. The application list opens on November 13, 2006 and closes December 20, 2006. Forms can be obtained at leading financial institutions and stock broking firms nationwide, or at UBA Global Market Limited, the authorized issuing house and underwriter.
Most of, if not all investors know that Oceanic bank has been adjudged one of the fastest growing banks in Nigeria. The institution is being run by seasoned professionals, which is also headed by the MD/CEO, Cecilia Ibru. The bank has carved out a niche for itself by having sound financial ratios and is also having a fantastic run on the floor of the Nigerian Stock Exchange. It is also referred to as the “toast” of many investors.
All proceeds from this offer would be managed by the bank, Oceanic Bank International Plc. This is another opportunity for discerning individuals to expand their portfolios and have a secured financial future.
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