Update shared on24 Jun 2025
Subject: Stanbic IBTC Concludes Oversubscribed Rights Issue, Raises N181.39bn to Strengthen Capital Base
Stanbic IBTC Holdings Plc has successfully completed its Rights Issue, raising N181.39 billion, following a 121.97% oversubscription. The offering, which was launched to bolster the group’s capital position, received robust investor support and reflects strong market confidence in the company’s long-term strategy and performance trajectory.
Key Highlights:
- Oversubscription Signals Strong Demand: A total of 2,773 valid applications were received for 3.59 billion shares, surpassing the 2.94 billion shares on offer. The issue was priced at N50.50 per share, and the subscription demand totaled N181.38 billion, with the Central Bank of Nigeria clearing N181.39 billion under its Capital Verification Exercise.
- Full Allotment and Regulatory Approval: All valid applications were accepted with 100% allotment, and no single application was rejected. Overpayments of N16.83 million by some receiving agents will be refunded.
- Strong Participation from Existing Shareholders:
- 2,665 shareholders fully took up their 2.49 billion provisionally allotted shares, worth N125.70 billion.
- Within this group, 1,579 shareholders went further, requesting 954.10 million additional shares, valued at N48.18 billion, demonstrating deeper commitment to the company’s growth.
- Rights Trading and Renunciation Activity:
- 79 applications were submitted through rights traded on the Nigerian Exchange, representing 127.80 million shares.
- A total of 307.22 million shares were renounced, including 282.98 million fully renounced units.
- Allotment of Additional Shares and Refunds:
- Renounced shares were allotted pro-rata to shareholders who applied for extra units, resulting in a 32.2% allotment rate for additional shares.
- Unallotted shares totaled 646.87 million units, and excess funds of N32.67 billion will be refunded to shareholders accordingly.
Strategic Implications: The successful completion of this Rights Issue, particularly at a time of heightened macroeconomic volatility, is a testament to Stanbic IBTC’s reputation for operational excellence and investor trust. The fresh capital is expected to support the group’s growth ambitions, enhance regulatory capital adequacy, and provide headroom for lending and investment activities across its core banking and financial services subsidiaries.
With full subscription and efficient execution, Stanbic IBTC now stands in a stronger financial position to capitalize on growth opportunities in Nigeria’s dynamic financial landscape, reinforcing its status as a leading player in the sector.
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