Sterling Plc Shrinks amidst Missed Regulatory Filing
The market value of Sterling Financial Holdings Plc shrank by more than 5% in the equities market as investors, shareholders anticipate the release of its audited financial statement for year 2024.
The share price closed lower at N5.65 in the equities segment of the Nigerian Exchange on Friday as investor sentiment waned. The financial services holding company that harbors Sterling Bank is trading at about a 12% discount to its 52-week high.
Data obtained from the Nigerian Exchange put N256.832 billion as the market value of Sterling Financial Holdings Plc’s 45.457 billion shares outstanding. Breaching regulatory requirement, Sterling Plc has not released its audited report for financial year 2024. The banking group has not also released its first quarter of 2025 earnings scorecard.
In Dec, 2024, the holding company announced board meeting was scheduled for 26 February for directors to consider audited report for 2024. Since then, the result has not been made public, and NGX has marked the company not to be in compliance with its regulatory demand.
Sterling Financial Holdings projected N11.64 billion as profit after tax for the first quarter of 2025, details from its earnings forecast obtained by MarketForces Africa revealed. #Sterling Plc Shrinks amidst Missed Regulatory Filing Zenith Bank Rises as Investment Firms Upgrade Target Price
