With NCB Financial Group Limited’s (NCBFG) extraordinary general meeting (EGM) only 11 days away, different asset managers are having mixed signals on the multi-billion-dollar additional public offering (APO) following the recent departure of several senior executives.

NCBFG’s board of directors had approved on September 8 the convening of an EGM to consider an APO for the issuance of up to 300 million new ordinary shares. The notice of the EGM, which was published on October 13, listed three resolutions for the virtual-only meeting. The first and second resolution seeks to give the board the ability to upsize the offer by an additional 150 million ordinary shares and carry out the necessary steps to execute the APO. As a result, the maximum shares to be issued is 450 million ordinary shares for the APO.

https://www.jamaicaobserver.com/business/mixed-feeling/