FBN Holdings Rights Issue to Close in 3 Days
Diversified financial services group, FBN Holdings Plc., rights issue of 5,982,548,799 ordinary shares at 50 kobo each, priced at N25.00 per share, would be closed on 30 December.
In a bid to recapitalise, the group launched its rights issue to allow shareholders to increase their stake and eliminate earnings dilution often associated with public offers.
Its rights issue was offered for subscription on the basis of 1 new ordinary share for every 6 existing shares held as at the close of business on Friday, October 18, 2024 was extended to give shareholders the opportunity to exercise their rights.
As of September 30, 2024, the group has total assets of N27.49 trillion, with N12.72 trillion in loans and advances, N21.22 trillion in customer deposits, and N2.60 trillion in shareholders’ funds.
FBNH achieved N2.25 trillion in gross earnings with a return on equity (ROE) of 20.27%. It is rated 15th most valuable stock on the NGX with a market capitalisation of N962 billion, which is about 1.64% of the Nigerian exchange-listed equity market.
FBN Holdings Records Huge Off-Market Shares Transactions
