- Sterling Bank Plc has announced results of its Private Placement. It put on offer 7,471,698,113 ordinary shares of 50 kobo each at a price of N2.65 per share
- It also confirms the offer was 96.3% subscribed
- Share certificates and CSCS accounts of successful allottees will be dispatched on or before January 23, 2015
- Last November Sterling Bank indicated that they were selling 7.4billion unit of shares to Messrs.’ Silverlake Investments via a private placement.
- We believe this announcement confirms this deal
- Sterling Bank had 21.5billion units of shares outstanding before the conclusion of this private placement
- Sterling Bank is currently trading at N2.30 and has a year low of N2.09