FBNHoldings Plc has opened its Rights Issue, offering 5.983 billion ordinary shares at 50 kobo each, priced at N25 per share, totaling N150 billion to existing shareholders.
This offering is based on one new ordinary share for every six ordinary shares held as of Oct. 18.
The Chairman of FBN Holdings, Mr. Femi Otedola, made this announcement in a statement on Sunday in Lagos.
According to Otedola, the offer is part of the company’s plan to recapitalise its commercial banking subsidiary, First Bank of Nigeria Ltd.
Otedola stated that the move aims to enhance the bank’s capacity for business development, growth, and expansion in both wholesale and retail segments.
He noted that the fresh capital would also boost the bank’s automation and digital banking services, as well as its African expansion plans.
Otedola urged shareholders to support the initiative by taking up their rights,…
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