FBN Holdings eyes N138bn from Rights Issue

Last updated: October 13, 2023 5:55 pm

1 Min Read

…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.

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.

TAGGED:bdothernews FBN Holdings Nigerian Exchange Limited (NGX)

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ByIheanyi Nwachukwu

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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).