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NBNK Investments shares suspended pending news on strategic acquisition

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Shares in NBNK Investments PLC (LON:NBNK) have been suspended on AIM pending substantial developments regarding its efforts to create a UK retail bank.

NBNK was formed for the purpose of making acquisitions in order to establish a significant UK retail bank.

In a statement to the London Stock Exchange, the company said that in view of the size of the operations it is seeking to acquire, any of which would be classed a reverse takeover underv AIM rules, and the level of on-going press speculation concerning possible acquisitions, trading in NBNK’s shares will be suspended until an admission document is published in relation to an acquisition or the talks otherwise conclude.

There can be no certainty that a transaction will be forthcoming, and further announcements will be made in due course, it said.

NBNK wants to create a UK bank focused on the retail and corporate small and medium enterprise (SME) markets. The company has been founded by Lord Levene and a group of senior business figures, supported by a number of institutional shareholders.

NBNK will focus on the UK market only, initially just in the retail banking and SME areas but it intends to expand into wealth management.

Quick facts: NBNK Investments

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AIM:NBNK
Market: AIM
Market Cap: -
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