Investors scramble for Oceanic Bank offer

As Oceanic Bank International Plc offer closes tomorrow the bank’s branches across Lagos State and all the stock participating broking outfits have been besieged by investors who are scrambling to get the shares. Daily Sun investigations reaveles that the last minute rush was as a result of anxiety over anticipated post-election violence and other sundry reasons.

According to one of the investors, Martins Ayodele “I had to wait till the last minute before investing because I kept the money for eventualities that may follow the last weekend elections and since as at today there was none, I decided to put the money to good use.”

Another investor, Bukola Amusu, said she had to borrow the money to invest from his cooperative society, and the cooperative could not give her the money until yesterday, a day to the end of the offer and that is the reason she is part of the late investors.

While another who simply called herself Franca, a marketer said, “Investment in shares is a costly decision and it took me this long to make up my mind to buy into the offer, don’t see anything bad in investing close to the end of the offer. The important thing is that I invested while the offer lasted.”
It will be recalled that the offer was extended by a week, which means it will effectively close tomorrow as against the earlier April 13, date. The extension was attributable to the spate of public holidays during the offer.

Feelers from the bank, however, suggest that investors have overwhelmingly received the offer, with analysts speculating an over subscription.

Chief Executive of Amyn Investments Limited, Mrs Hauwah Audu, attributed investors’ high interest in the offer to the bank’s high rate of returns.

She expressed satisfaction on the patronage level so far, noting that the offer is on the threshold of being grossly over subscribed.

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