Stanbic IBTC Holdings has launched its N148.7 billion Rights Issue on the Nigeria Exchange NGX e-offering platform, NGX Invest.
Presented at the Facts Behind the Rights Issue event on Tuesday, the NGX disclosed that the offer, which has been open since January 15 and will close on February 21, 2025,
The NGX highlights the growing adoption of NGX Invest, a platform designed to streamline capital raising and enhance investor participation.
The Rights Issue allows existing shareholders to subscribe to 2,944,772,083 ordinary shares of 50 kobo each at N50.50 per share, structured as five (5) new shares for every twenty-two (22) ordinary shares held as of October 29, 2024. Qualified investors can seamlessly take up their rights via the platform at https://invest.ngxgroup.com
Speaking on the significance of NGX Invest, Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited (NGX), remarked, “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.”
Kunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings Plc, acknowledged NGX Invest as an essential tool in facilitating the rights issue. He noted that the platform would enable Stanbic IBTC to distribute its rights issues efficiently while meeting regulatory requirements and delivering value to its shareholders.
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