By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Acquired Mainstreet Bank Limited will receive holdings of 121,375,422 units of the Asset Management Corporation of Nigeria (AMCON) Series V Bonds (redeemed at par) by the end of this month, according to a report from Proshare.

Proshare affirmed that information available to it reveals that further to the AMCON Bond Issuance Programme under which Mainstreet subscribed to AMCON series V Bonds and specifically in pursuant to Condition 11 of the Amended and Restated Programme Trust Deed, AMCON would redeem the Bonds which are due to mature on October 31, 2014 accordingly.

Last week AMCON signed an agreement with Skye Bank as the preferred bidder for the acquisition of Mainstreet Bank.