Sterling Holdings Tops N527bn on Additional Shares Listing
A soft weekly price gain and the listing of new shares lifted Sterling Financial Holdings’ stock market valuation to N527.434 billion, according to trading data from the Nigerian Exchange.
Sterling surged ahead of the earnings release, with increased positioning suggesting improved investor sentiment in anticipation of the H1-2026 scorecard.
Trading data showed that the share price of the non-operating holdings company of Sterling Bank closed at N8, with investors trading 10.316 million units valued at N81.386 million on Friday.
Sterling share price increased by about 5.3% week on week to N8 at the close of the trading session on Friday, from N7.6 at the beginning of the week.
The group’s market value topped N527 billion as the financial holding company of Sterling Bank listed 13.812 billion ordinary shares on the market, up from N396.089 billion.
The additional shares listed lifted Sterling Financial Holdings Plc’s outstanding shares on NGX to 65.929 billion from 52.117 billion, signaling potential reduction in future earnings per share.
Following its soft re-rating, Sterling Holdings is trading at a 14.43% discount to its 52-week high.
Sterling Holdings reported a 35.7% year-on-year growth in Profit After Tax (PAT) in Q1, predominantly driven by a 35.6% increase in interest income, which offset pressures from a surge in impairment charges.
Despite the improvement in profitability, Earnings Per Share (EPS) remained flat at N0.38, reflecting the dilutive impact of the additional 22.74 billion shares issued between both periods, analysts at CardinalStone Securities Limited said in a report.
The Holdco’s profit after tax settled at N23.4 billion, translating to an EPS of N0.38, Return on Average Assets (ROAA) of 2.3% (+0.4ppts YoY), and Return on Average Equity (ROAE) of 19.3% (-2.7ppts YoY). Analysts said the moderation in ROAE reflects faster equity expansion, driven by the Group’s capital raising activities. Sterling Holdings Tops N527bn on Additional Shares Listing
