Stanbic IBTC Holdings has formally submitted its rights issue to the Nigerian Exchange (NGX), which involves the issuance of 2,944,772,083 ordinary shares, each priced at 50 kobo.
This important announcement was made during the “Facts Behind The Figures” event on January 21, 2025, chaired by Jude Chiemeka, CEO of Nigerian Exchange Limited.
Valued at N148.7 billion, this rights issue offers existing shareholders the opportunity to acquire 5 ordinary shares for every 2.2 shares they currently hold, with each share priced at N50.50. The subscription period began on January 15, 2025, and will run until February 21, 2025, giving shareholders the chance to increase their investments in Stanbic IBTC Holdings.
In recognition of the support from the Nigerian Exchange (NGX), Kunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings, expressed gratitude and highlighted that the company had received approval to raise N150 billion during its most recent Annual General Meeting.
The CEO of Stanbic IBTC Bank, Wole Adeniyi announced that 96.34% of the funds will be used to improve the bank’s corporate, investment, business, commercial, and personal banking services.
