Highlight the purpose of the rights issue and its impact on Nigeria’s financial sector. Example: Explore how Stanbic IBTC’s N148.7 billion rights issue on NGX Invest is driving growth in key sectors like oil, gas, and sustainable finance. The Nigerian Exchange (NGX) is redefining capital-raising in Nigeria through its revolutionary e-offering platform, NGX Invest. The platform’s latest milestone is the launch of Stanbic IBTC Holdings Plc’s N148.7 billion rights issue, marking another step in NGX’s efforts to enhance investor participation and streamline the fundraising process. Overview of the Rights IssueLaunched on January 15, 2025, and closing on February 21, 2025, the rights issue allows existing shareholders to subscribe to 2,944,772,083 ordinary shares at 50 kobo each for N50.50 per share. This offering is structured as five (5) new shares for every twenty-two (22) ordinary shares held as of October 29, 2024. Interested shareholders can conveniently take up their rights via the NGX Invest platform at https://invest.ngxgroup.com. NGX Invest: Transforming Nigeria’s Financial LandscapeJude Chiemeka, Chief Executive Officer of NGX Limited, praised the platform’s success, stating: “The success of NGX Invest as a capital-raising platform reinforces our commitment to providing innovative solutions for issuers and investors alike. Stanbic IBTC’s confidence in our infrastructure reflects the opportunities we continue to create for sustainable growth in Nigeria’s financial markets.” Stanbic IBTC’s Strategic VisionKunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings Plc, acknowledged the platform’s efficiency in facilitating the rights issue. He emphasized that the funds raised would target critical sectors, including: Adedeji also expressed gratitude to shareholders, underscoring their confidence in the bank’s vision. NGX Group’s Broader ImpactTemi Popoola, Group MD/CEO of NGX Group, highlighted the platform’s role in driving economic growth, stating: “At NGX Group, we are committed to fostering innovation that drives economic growth and empowers issuers to achieve their goals. NGX Invest exemplifies how we continue to position the Exchange as the preferred destination for capital formation in Africa.” As the Nigerian financial sector adapts to evolving regulations, NGX remains at the forefront, offering cutting-edge tools that attract investments, engage stakeholders, and drive sustainable economic transformation. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Stanbic IBTC Holdings has introduced a rights issue worth N148.7 billion to the Nigerian Exchange (NGX). This initiative involves the issuance of 2,944,772,083 ordinary shares, each priced at 50 kobo. This announcement was made during the “Facts Behind The Figures” event on January 21, 2025, hosted by Mr. Jude Chiemeka, CEO of Nigerian Exchange Limited. Rights Issue Details The rights issue is structured to enable existing shareholders to purchase additional shares at a ratio of 5 shares for every 2.2 shares held, at a price of N50.50 per share. The subscription period commenced on January 15, 2025, and is set to close on February 21, 2025, giving shareholders a window to expand their investment portfolios in Stanbic IBTC Holdings. Key Remarks from Executives Mr. Jude Chiemeka, NGX CEO, applauded Stanbic IBTC for utilizing the NGX Invest platform, emphasizing its alignment with the exchange’s technology-driven strategy. He said: “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.” On the company’s decision, Dr. Kunle Adedeji, Acting CEO of Stanbic IBTC Holdings, expressed gratitude for NGX’s support, stating: “We have chosen to pursue this capital through a rights issue, targeting N148.7 billion after securing approval during our last Annual General Meeting to raise N150 billion.” Mr. Wole Adeniyi, CEO of Stanbic IBTC Bank, shared that 96.34% of the funds will be directed toward enhancing the bank’s services in corporate, investment, business, commercial, and personal banking. How the Funds Will Be Used The N148.7 billion raised through this rights issue will be allocated as follows: This capital raise is a strategic step toward meeting the Central Bank of Nigeria’s recapitalization mandate. Investment Opportunity The rights issue presents a significant opportunity for shareholders, as an oversubscription could boost investor confidence in Stanbic IBTC Holdings. The company’s stock is currently priced at N59 as of the market opening on January 22, 2025, reflecting its strong long-term growth potential in the Nigerian stock market. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
