Forte Asset Management ups Shareholders Fund to N4 Billion

Forte Asset Management Limited, a member of the Nigerian Stock Exchange (NSE) plans to raise its shareholders fund to N4 billion within the next six months to fund its business expansion plans.

The company’s managing director and chief executive officer, Tunji Oba, said that the new money will be raised mainly from private placements.
The fresh fund raising will coincide with the launch of a new brand image that will underline the company’s future, focus will include financial advisory services, asset management, issue house and underwriting.
“When we complete the brand change, it will involve a change of name,” says Oba.

According to him, the company will change from Forte Asset Management to Forte Financials.
“We are careful about stepping out for that change and that is why we are putting things in proper position to see exactly what we can do before we change or re-brand our name.”
The company is expecting the approval by the Securities and Exchange Commission and NSE on the private placement.
Oba said “once we get the approval, we will step out with the new name.”
it was further disclosed that the implication of this change from Forte Asset Management to Forte Financials means an expansion in all aspects of what the company currently does as well adding more services to its business line.
“ What we are doing at this point is not to react to what has happened to the sector but to look at the future and make our business to begin to work for the future,” Oba concluded.

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