Minister for Lands, Housing and Human Settlements Development, William Lukuvi
BY FRIDAY SIMBAYA, IRINGA: MUCOBA Bank PLC has started offering 20,000,000 ordinary shares at 250/- per share to the general public by way of Initial Public Offer (IPO) as part of its ongoing capital restructuring program, The Guardian has established.
The community bank is expecting to sell 20,000,000 ordinary shares to the general public worth five billion shillings (5bn/-) before the closing of the offer by way of IPO.
According to the General Manager, Ben Mahenge, that is representing 54.70 percent of the issued share capital of 36,560,760 ordinary shares of a nominal value of 50/-each.
Mahenge said that offer was officially launched today by the Minister for Lands, Housing and Human Settlements Development, William Lukuvi and the offer will be closed on 4th September this year.
