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    Tuesday, August 4

    FBN Holdings Falls after Rights Issue Pricing

    Julius AlagbeBy Uncategorized No Comments1 Min Read
    FBN Holdings Falls after Rights Issue Pricing

    FBN Holdings Falls after Rights Issue Pricing

    FBN Holdings Plc share price retreated on Monday after the financial services group announced N150 billion capital raise with rights issue. The financial services group share price fell by more than 6% on Monday on the trading platform of the Nigerian Exchange (NGX) to settle at N27 from N28.75 close price on Friday.

    This happened after the oldest listed financial group announced its decision to price its rights issue to shareholders at N25, targeting to raise N150 billion from existing shareholders. 

    FBN Holdings has, in a notice, told the Nigerian Exchange plan to hold its 2023 annual general meeting in November after protracted delay caused by internal acrimony and court case.

    The group has seen significant share volume trade in the last seven days on the Nigerian Exchange, from both buy and sell side actors ahead of the meeting and third quarter earnings release.  #FBN Holdings Falls after Rights Issue Pricing Naira Rises against US Dollar Ahead of Sept. FX Auction

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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