Sterling Financial Holdings Company Plc has listed an additional 16.67 billion ordinary shares on the Nigerian Exchange Limited following the completion of its private placement.
The NGX, in its Market Bulletin issued on Monday, confirmed the listing, stating that the newly added shares arose from Sterling HoldCo’s private placement of 16,666,666,667 ordinary shares of 50 kobo each at N4.50 per share.
With this listing, the company’s total issued and fully paid-up shares have increased from 28.79bn to 45.46 billion ordinary shares of 50 kobo each.
In the bulletin signed by the Head of Issuer Regulation at NGX, Godstime Iwenekhai, the exchange stated, “Trading License Holders are hereby notified that an additional 16,666,666,667 ordinary shares of 50 Kobo each per share of Sterling Financial Holdings Company Plc were today, Monday, March 17, 2025, listed on the Daily Official List of Nigerian Exchange Limited.”
The PUNCH reported that the Central Bank of Nigeria has approved the additional N75bn capital raised by Sterling Financial HoldCo to meet its new capital threshold. Since the private placement, Sterling HoldCo launched a rights issue in October 2024, structured to provide existing shareholders with the exclusive opportunity to deepen their stakes in the company and share in its growth story.
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