Following the receipt of the Securities and Exchange Commission clearance of the Offer Documents in respect of the proposed initial offer for subscription of 100 million units of the Lotus Halal Equity Exchange Traded Fund, Lotus Capital Limited has announced the successful hosting of the signing ceremony in respect of the proposed initial offer.
The board of directors of the company and relevant professional parties, including Vetiva Capital Management Limited (issuing house to the offer), were present to execute the offer documents during the signing ceremony.
Lotus Capital, upon receipt of final approval from the Securities and Exchange Commission, plans to launch the Lotus Halal Equity Exchange Traded Fund, an Exchange Traded Fund (“ETF”) based on the NSE Lotus Islamic Index. The
Index is an adjusted market capitalisation weighted index currently comprising 15 Shari’ah compliant equities listed on the floors of the Nigerian Stock Exchange
Lotus Capital is an Investment Management company specialising in Asset Management according to the Islamic system of Financial Management. Lotus Capital was founded in June 2004, with the objective of providing cost – effective ethical financial solutions to individuals, businesses and organizations across West Africa. The company is duly registered with the Securities and Exchange Commission as a Fund Manager.
Originally published on businessdayonline.com