Infinity Trust Mortgage Bank Plc has announced that it has received a two-year extension from NGX Regulation Limited to comply with the Nigerian Exchange Limited’s free float requirement for companies listed on the Main Board.
In a disclosure to the NGX and the public, the Board of Directors stated that the bank now has until April 10, 2027, to meet the minimum free float threshold of 20 percent of its issued share capital. The extension was granted in accordance with Rule 3.1.4 of the NGX Free Float Rules.
The bank confirmed that it has developed a roadmap to address the shortfall and achieve full compliance within the extended period.
Infinity Trust Mortgage Bank, recognized as one of Nigeria’s leading and most capitalized primary mortgage institutions, has demonstrated strong financial growth over the years. From a shareholders’ fund of less than N50 million in 2003, the bank has expanded its capital base to over N9.2 billion. It has also maintained a consistent track record of dividend payments for fourteen consecutive years.
The bank’s impact in the real estate sector is notable, having wholly or partly financed the development of no fewer than 20 modern estates in Abuja, providing affordable housing to over 10,000 Nigerian families.
The extension granted by NGX RegCo provides Infinity Trust Mortgage Bank with additional time to strengthen its public float position while continuing to pursue its strategic growth initiatives.
