Our relationship with AquaEarth Consulting has enabled us to not only satisfy the growing demand for ESG-aligned practices, but also to play a key role in promoting Nigeria’s sustainability agenda. We are happy to take this crucial step towards creating a more sustainable and inclusive future.” Holdings has announced its N148.7 billion Rights Issue using the Nigeria Exchange’s e-offering platform, NGX Invest.
At the Facts Behind the Rights Issue event on Tuesday, the NGX revealed that the offer, which has been open since January 15 and would conclude on February 21, 2025. The NGX highlights the growing popularity of NGX Invest, a tool meant to simplify capital raising and increase investor involvement.
The Rights Issue entitles current shareholders to subscribe for 2,944,772,083 ordinary shares of 50 kobo each at N50.50 per share, with five (5) new shares for every twenty-two (22) ordinary shares owned as of October 29, 2024. Qualified investors can effortlessly exercise their rights through the platform at https://invest.ngxgroup.com.
Speaking about the significance of NGX Invest, Jude Chiemeka, CEO of Nigerian Exchange Limited (NGX), stated, “The success of NGX Invest as a capital-raising platform confirms our commitment to delivering innovative solutions for issuers and investors alike. Stanbic IBTC’s confidence in our infrastructure shows the opportunity we continue to create for long-term growth in Nigeria’s financial markets.”
Kunle Adedeji, Acting CEO of Stanbic IBTC Holdings Plc, recognised NGX Invest as a critical tool in supporting the rights issuance. He explained that the platform would allow Stanbic IBTC to efficiently distribute its rights issues while meeting legal obligations and providing value to its shareholders.
