Nigeria's Diamond Bank seeks approval for up to $400 mln rights issue

LAGOS Wed May 21, 2014 11:25am EDT

LAGOS May 21 (Reuters) - Nigeria's Diamond Bank is filing for regulatory approval to raise between $300 million and $400 million via a rights issue from existing shareholders, its chief finance officer told Reuters on Wednesday.

"We are in the process of filing with the relevant regulatory authorities for a rights issue ... which we expect to conclude by Q3," Diamond Bank's CFO, Abdulrahaman Yinusa, said. (Reporting by Chijioke Ohuocha; editing by Keiron Henderson)