London Stock Exchange is delighted to welcome Zenith Bank to the Main Market
Zenith Bank PLC has successfully listed up to 125,000,000 global depositary receipts representing 6,250,000,000 ordinary shares of the Company to trading on the London Stock Exchange plc's main market, trading on the International Order Book. Each GDR was priced at US$6.80, equivalent to NGN 21.58 per equity share.
J.P. Morgan acted as Global Coordinator and Sole Bookrunner on this transaction with Vetiva Capital management as the financial adviser to the company.
Zenith Bank is a full service bank headquartered in Lagos, Nigeria. It offers a wide range of corporate, investment, business and personal banking products and solutions from over 500 branches and offices. It is one of the biggest and most profitable banks in Nigeria and was listed on the Nigerian Stock Exchange in 2004. The Bank also has a presence in the UK, Ghana, Sierra Leone, Gambia, South Africa and China.
Commenting on the occasion, Mr Godwin Emefiele, Managing Director and Chief Executive Officer of the Company said, "We are delighted with the success of our inaugural GDR listing. This is one of the first Nigerian bank GDRs to be listed on the main board of the London Stock Exchange, and the transaction generated substantial interest from top tier investors in Europe and is a testament to the support for the Zenith Bank business model worldwide."
Africapractice and FTI Consulting are the joint financial PR and investor relations advisors to the company.