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Stanbic IBTC presents rights issue of N148.7 billion at 50 kobo per share at ‘Facts Behind The Figures’ 

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Stanbic IBTC Holdings has officially presented its rights issue to the Nigerian Exchange (NGX), involving the issuance of 2,944,772,083 ordinary shares priced at 50 kobo each.

This significant update was shared during the “Facts Behind The Figures” event on January 21, 2025, chaired by Mr. Jude Chiemeka, the Chief Executive Officer of Nigerian Exchange Limited.

Valued at N148.7 billion, this rights issue allows existing shareholders to acquire shares at a rate of 5 ordinary shares for every 2.2 shares they hold, priced at N50.50 per share.

The subscription period commenced on January 15, 2025, and will conclude on February 21, 2025, providing shareholders an opportunity to expand their investments in Stanbic IBTC Holdings.

Mr. Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited (NGX), expressed interest in Stanbic IBTC’s decision to leverage the NGX Invest platform, stating:

 “We are thrilled to welcome Stanbic IBTC as they capitalize on our technology-driven strategy. Their decision to use the NGX Invest platform for capital raising aligns perfectly with our objectives.” 

In gratitude for the support provided by NGX, Dr. Kunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings, noted that the company had secured approval to raise N150 billion during its last Annual General Meeting.

He clarified, “We have chosen to pursue this capital through a rights issue, targeting N148.7 billion.”

Mr. Wole Adeniyi, CEO of Stanbic IBTC Bank, announced that 96.34% of the funds will be used to improve the bank’s corporate, investment, business, commercial, and personal banking services.

Stanbic IBTC Holdings intends to raise N148.7 billion through a rights issue, with 96.3% of the proceeds going to its flagship banking subsidiary, Stanbic IBTC Bank.

Oversubscription of this offer might increase investment sentiment surrounding the company’s stock, currently priced at N59 as of the market opening on January 22, 2025.

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