FBN Holdings Plc has launched its N150 billion rights issue on the Nigerian Exchange Group’s digital platform, NGX Invest. The rights issue, which offers one new share for every six held by existing shareholders, is now available through NGX Invest, providing a streamlined, digital route for investors.
FBN Holdings becomes the seventh Nigerian bank to utilise this channel, joining others that have collectively distributed eight public offerings through the platform in recent months.
This capital-raising exercise aligns with new directives from the Central Bank of Nigeria CBN, which has set stricter capital adequacy requirements for banks. By 2026, all Nigerian banks are expected to bolster their capital bases, a move aimed at enhancing the financial sector’s resilience and stability.
FBN Holdings’ latest rights issue underscores its commitment to compliance with regulatory mandates and strengthens its capital footing as it navigates the evolving financial landscape.
Leave feedback about this
You must be logged in to post a comment.