…”Facts Behind the Rights Issue” Presentation by Stanbic IBTC Holdings Plc.
Written By Rashidat Olushola Okunlade
Stanbic IBTC Holdings Plc, in collaboration with Nigeria Exchange Limited (NGX), has announced to presents “Facts Behind the Rights Issue,” a presentation by its board and management.
As popularly known, Stanbic IBTC is a financial service holding company in Nigeria with subsidiaries in Banking, Stock Brokerage, Investment Advisory, Asset Management, Investor Services, Pension Management, Trustees, Insurance Brokerage and life Insurance businesses.
The company’s executive management team, will share valuable insights into the company’s strategic vision, core business strategies, and the expected impact of the rights issue on its operations and growth trajectory.
Stanbic IBTC Holdings Plc’s leadership will discuss the opportunities available to investors through its capital-raising exercise and highlight the potential of this offer in shaping the organisation’s future.
The presentation will occur on Tuesday, 21 January 2025, 2:30 pm at Nigerian Exchange Group House in Lagos.
Nigerian Exchange Limited (NGX) had earlier approved the Rights Issue of N150billion on November 2024, according to its report. Base on recapitalisation, the group set to raise N550billion through a combination of a N150billion rights issue and a N400 billion debt issuance programme, amounting to a total of N550 billion as stated at its Annual General Meeting in May, 2024.
Stockbrokers for the Rights Issue are Stanbic IBTC Stockbrokers Limited, FBNQuest Securities Limited, Greenwich Securities Limited, Meristem Stockbrokers Limited, and RenCap Securities (Nigeria) Limited.
Also, the Issuing House(s)/Financial Adviser(s) for the Rights Issue of Stanbic IBTC Holdings Plc. are: Rand Merchant Bank Nigeria Limited, Stanbic IBTC Capital Limited, Coronation Merchant Bank Limited, FCMB Capital Markets Limited, Quantum Zenith Capital & Investments Limited, United Capital Plc, and FSDH Capital Limited.
The Central Bank of Nigeria (CBN) raised the minimum capital base for commercial banks holding national authorisation to N200 billion, and those with regional authorisation to N50 billion. Also, banks with international authorisation now need N500 billion as the minimum capital to retain their licenses.
