…basis of 1 new ordinary share for every 4 held
The Nigerian Exchange Limited (NGX) trading license holders have been notified that FBN Holdings Plc (FBN Holdco) has through its stockbrokers, FBNQuest Securities Limited, submitted an application to Nigerian Exchange Limited for the approval and listing of a Rights Issue.
The FBN Holdco Rights Issue of 8,973,823,198 ordinary shares of 50 kobo each comes at N15.50 per share.
Read also: VFD Group targets N12.5bn from Rights Issue
The Rights Issue is on the basis of 1 new ordinary share for every 4 ordinary shares held as at the close of business on Monday October 9, 2023.
The qualification date for the Rights Issue is October 9, 2023.
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
