By InvestAdvocate

Lagos (INVESTADVOCATE)- Stanbic IBTC Asset Management Limited, a wholly owned subsidiary of Stanbic IBTC Holdings Plc will on Tuesday  list a N1.0 billion Stanbic IBTC Exchange Traded Fund 30.

The company on September 15 opened an initial public offering (IPO) for the Stanbic IBTC ETF 30.

Stanbic IBTC Asset Management opened the offering with 10,000,000 units of the fund available at N100 each at par with a minimum subscription of 10,000 units and multiples of 5,000 units thereafter.

Stanbic IBTC Capital Limited was the issuing house to the offer.

Olumide Oyetan, the chief executive officer, Stanbic IBTC Asset Management, mangers of the fund was quoted as saying, “The opening of the Stanbic IBTC ETF 30 is a direct response to increased investor demand for passive investment strategies that will deliver the market return for the index being tracked, which in this case is the NSE 30 of the Nigerian Stock Exchange.

“Our ETF is merely providing a transparent and flexible structure that allows investors efficiently gain exposure to the securities of these companies that have over time out-performed the broad equity market,” he said.