AssetswiseCapital Limited (AssetswiseCAPITAL) N1.650 billion Private Placement (PP) has ended today December 05, 2008. This was contained in the Placement Memo made available to Proshare NI in LagosNigeria.
To raise the N1.650 billion, the Private Equity Company is offering to select investors 1.5 billion Ordinary Shares of N1.00 at N1.10 Kobo per.
Already the company affirms it has an Authorised Share Capital of N2.0 billion comprising of 2.0 Ordinary Shares of N1.00 each. While N500 million comprising of 500 million Ordinary Shares of N1.00 each has been issued and fully paid up.
From the Profit Forecast made available to Proshare NI, AssetsCAPITAL has projected to give its investors a 29 Kobo dividend payout in year 2010/2011 Financial Year Ends (FYEs).
While it is expected to pay 0.8 and 21 Kobo as dividend to its shareholders in years 2008/2009 and 2009/2010 respectively.
Income is expected to increase from N1.765 billion in year 2008-09 to N10.790 billion in year 2010-11 indicating an increase of 511 percent in the forecast period.
Profit before Tax (PBT) is also projected to rise from N686.664 million in year 2008-09 to N5.269 billion in year 2010-11 showing an expected rise of 667.46 percent.
AssetsCAPITAL has also projected a growth in Profit after Tax (PAT) from N480.665 million in year 2008-09 to N3.688 billion in year 2010-11 representing a growth of 667.46 percent in the forecast period.
As part of its strategy, the company affirmed it plans to increase Assets under Management to about N8.0 billion by end of 2008-09 periods.
While hoping to increase same in the next five years to about N148 billion.
To achieve the above, AssetsCAPITAL already holds 25 percent stake in Homebase Mortgage Limited- a recently recapitalised Mortgage Bank.
Further, the company has about 10 percent stake in Cowry Asset Management Limited, a leading firm of Stock Brokers and Asset Managers and 45 percent in Eartholeum Networks Limited, a start-up e-commerce and m-commerce company, and a 40 percent stake in Scintilla Limited, owners of Scintilla Arena an entertainment services provider.
However, a unit of sale are a minimum of 20 million shares and multiplies of 1.0 million thereafter. Access Bank Plc is the Issuing House to the Placement.
Without prejudice, Proshare NI cannot confirm these claims as at the time of filling in this report.