Providus Bank Considers NGX Listing After Unity Bank Merger

Providus Bank is contemplating a listing on the NGX after merging with Unity Bank. The merger will result in Providus Bank becoming a publicly listed company on the stock exchange.

Shareholders will have the choice to receive a cash payout of N3.18 per share or exchange their Unity Bank shares for Providus Bank shares. The merger will see Providus Bank's share capital increase to 54.2 billion shares, with Northwest Petroleum & Gas Limited holding a reduced stake.

AMCON sold its stake in Unity Bank, impacting the ownership structure of the merged entity.