By Peter Egwuatu
Ambra Investicorp has assured the investing public that its industrial fund will generate higher returns than companies’ shares quoted on the Nigerian Stock Exchange (NSE).
Mr. Ikem Odumodu, President of Anambra Leaque of Processionals disclosed this to newsmen in Lagos during the launch of the N1 trillion development fund by Ambra Investicorp, saying, “ what we are doing is not to collect money from people as donation, we are assuring them to put their money that we will be able to make returns in 5 years. On the average the returns will be higher than what any equity on the Nigerian Stock Exchange will be able to offer”.
He explained that investors stand to reap more from their investment in the shares of Ambra Investicorp Limited, an investment holding company floated by the League of Anambra Professionals.
In an exclusive interview with Vanguard ,Odumodu said that they have set high earnings per share as more dividend would be paid to investors when the stock is eventually listed by 2015.
The company, he said, is on the verge of completing its private placement offer opened last year to raise initial N10 billion funds being the first tranche of the N1 trillion fund for the take off of the industrial, economic and social development of the state.
According to him, “ the company is to raise N1 trillion in the next five years for the transformation of Anambra State into the most commercialized and industrialized state by the year 2030.
He said that the organization has planned to develop the state through massive investment activities that would create massive employment opportunities within the state in the next 20 years.
“Our target is that by 2030, Anambra will be the biggest economy in Nigeria. And we have already worked out the milestone to reach our target. So, what we are doing now is, for the first five years raise a development fund, then create a N1trillion development fund, identify businesses that we can invest in and the rest is a piece of cake. We have professionals who are going to run it”, Odumodu
stated. He listed areas the company is going to invest to include agriculture, extractive industry, and information communication and technology (ICT). “We are going to play in agriculture, in extractive industry, and of course in ICT.