Zenith Bank Plc has applied to the Nigerian Exchange (NGX) Limited seeking approval to sell 5.23 billion shares by way of rights issue to raise N188.37 billion from existing shareholders. The qualification date for the rights issue is July 24.
Zenith Bank plans to list a rights issue of 5,232,748,964 ordinary shares of 50 Kobo each at N36 per share on the basis of one (1) new ordinary share for every six (6) existing ordinary shares held as at the close of business on Wednesday July 24, 2024.
Zenith Bank applied for the approval through Stanbic IBTC Stockbrokers Limited, the lender’s its stockbroker, according to a statement by Godstime Iwenekhai, head of the issuer regulation department at NGX,
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).
