The share capital of Wema Bank Plc, one of Nigeria’s Tier 2 financial institutions, rose by a significant 66% with the listing of 14,143,244,747 additional ordinary shares on the Nigerian Exchange Limited (NGX) on Tuesday, September 30, 2025.
The move follows the successful conclusion of a Rights Issue earlier this year and positions the bank for enhanced capital strength and expanded market operations.
In a press release on September 10, 2025, Wema Bank confirmed that the exercise had lifted its shareholders’ funds above the N200 billion threshold required for national license banks.
The newly listed shares stemmed from Wema Bank’s Rights Issue of 14,286,785,417 ordinary shares offered at N10.45 per share, on the basis of two new shares for every three existing shares held as of March 5, 2025.
According to the NGX, 14.14 billion of these shares were admitted to its Daily Official List, representing a 66% increase in the bank’s issued and fully paid-up shares from 21.43 billion as of June 2025 to 35.57 billion ordinary shares of 50 Kobo each.
The strong uptake of the Rights Issue signals continued investor confidence in Wema Bank’s long-term strategy, particularly its ongoing digital transformation and focus on innovative banking services through platforms like ALAT.
Market analysts view the listing as a major liquidity boost for the bank’s stock, which is expected to attract renewed interest from institutional and retail investors alike. The NGX, in its notification to trading licence holders, confirmed that the shares were officially admitted on September 30 and are now available for trading.
Wema Bank’s capital raise and share expansion come at a time when many Nigerian banks are exploring consolidation and capitalization strategies to meet expected regulatory thresholds and compete more aggressively in a challenging economic environment.
With the Central Bank of Nigeria (CBN) pushing for stronger capital buffers across the sector, Wema’s move is seen as both proactive and strategic, potentially placing it ahead of regulatory shifts.
As the bank’s total equity structure expands, stakeholders will be watching closely to see how the additional capital is deployed.
Industry observers expect increased investments in digital banking infrastructure, lending capabilities, and regional expansion.
The listing not only underscores Wema Bank’s commitment to transparency and shareholder value but also reinforces its position as a key player in Nigeria’s evolving banking landscape.