Stanbic IBTC Ventures Limited, a subsidiary of Stanbic IBTC Holdings PLC has applied to the Securities and Exchange Commission to surrender its licence as a Venture Capital Manager.
This notice is contained in a statement signed by the Company Secretary, Chidi Okezie, made available on the website of the Nigerian Stock Exchange.
According to the firm “the surrender is entirely voluntary and the Commission has granted a “No Objection” to Stanbic IBTC Ventures Limited’s application.
“We also would like to state that Stanbic IBTC Ventures Limited does not have any Venture Capital obligations with any of its clients and the surrender of its licence would not impact negatively on the Stanbic IBTC Group as Stanbic IBTC Ventures Limited will still continue to operate as a going concern.