By investadvocate

Oct 29 2010 16.20 GMT

Lagos (INVESTADVOACTE)-There are strong indications that a strategic investor is eyeing equity stake in FinBank Plc.

 

This is coming on the heels of a notice from the Bank to the Nigerian Stock Exchange (NSE) Friday October 29 2010 in Lagos Nigeria.

 

The Bank affirmed in a Cautionary Announcement to the Exchange that it has entered into negotiations with a potential strategic investor which, if successful, could lead to the recapitalisation of the Bank.

 

FinBank further affirmed that finalising of the transaction is subject to shareholders and regulatory approvals.

 

“The Bank undertakes to furnish the Market with further information in case of occurrence of any material event” FinBank said.