Nigeria's Skye Bank plans $251 mln rights issue after debt sale

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Nigeria's Skye Bank plans to raise 50 billion naira ($251 million) via a rights issue by the third quarter of 2015 to expand its loan book after it completed the sale of short-term commercial notes last week, it said on Wednesday.

Skye Bank, which acquired nationalized lender Mainstreet Bank this year, said in a statement the shares sale is expected to commence after a shareholders' meeting scheduled for May.

The bank also said it raised 100 billion naira through the sale of 90-day commercial paper at 16.5 percent.

Shares in the lender rose 10 percent to 2.64 naira, tracking the overall rise on the main share index which is up 8.4 percent, lifted by positive sentiments after opposition leader Muhammadu Buhari's won a closely-fought presidential vote.