NCB to consider additional public offering

NCB Financial Group Ltd's board held a general meeting last Friday in which the company was advised to consider the additional public offering of new ordinary shares and to apply for listing the shares.

A release on Monday said the number of shares sought to be issued by way of additional public offering is expected to be up to 300,000,000. The company will in due course issue a notice of arrangements for the general meeting.

The NCB financial group reported a net profit of J$7.4 billion for the quarter ended June 30 which is a 48 per cent improvement in profits over the prior quarter. This was reported during NCB's investor's meeting on August 10.