Posted on 11 May 2010
VTN, Nigerian e-payment site set to raise N1.5 Billion ($10M) for expansion
We interviewed VTN CEO, Peter Ojo recently about their innovative e-payment system. Today comes a very big news, Virtual Terminal Network (VTN) is set to raise N1.5 billion ($10Million) in private placement. I got the scoop in my mail just this morning.
The fund is said “… will be used for the expansion of the company’s network, enhance its working capital and increase its operational capacity.”
The placement comprises of 1,520,000,000 ordinary shares of N1.00 each at N1.05 per share. This means that with about N55,000 you can participate.
Remember, this is a private place and not IPO. It’s usually opened to institutional investors and not the general public. If you are one, why not request for info here.
[...] release below, LFR has extended the service to Nigeria. Remember also that VTN recently conduct a private place to raise 1.5Billion Naira to power its [...]