FBNH Rights Issue, Market Price Tally at N25
FBN Holdings (Ticker: FBNH) rights issue and stock market price tally as the financial stock traded flat for third consecutive trading sessions on the Nigerian Exchange platform.
In the local bourse, stock market price of FBN Holdings Plc. settled at N25 for third days amidst huge volume. On Wednesday, more than 15million shares of FBN Holdings exchange hands in the local bourse.
The group with plan to change official and brand name worth more than N897 billion as the local bourse continues banking name re-rerating.
FBN Holdings is in the midst of raising about 150 billion from shareholders willing to exercise their rights to avoiding earnings dilution.
At the same, shareholders now have opportunity to buy the financial services group share at the open market or rights issue offer at N25.
As part of effort to boost capital position, the group launched a rights issue of 5,982,548,799 ordinary shares at N25.00 per share # FBNH Rights Issue, Quoted Price Tally at N25 Naira Plummets to N1690/$ after CBN Priced Spot Rate High
