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Home Industries Company News

After Bond issue, Stanbic IBTC will raise N20b via rights issue

Nairametrics by Nairametrics
June 10, 2015
in Company News
Stanbic IBTC plans N24 billion rights issue
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Stanbic IBTC has announced it has obtained approval to commence rights issue. They will be offering 800,000,000 Ordinary Shares of 50 kobo each at N25.50 per share.

The basis for allotment of the rights will be 2 new ordinary shares for every 25 ordinary shares held. The Qualification Date for this Right Issue is today, 10 June 2015.

Stanbic IBTC only recently celebrated the listing of its N15.4illion corporate bonds and will be applied to fund the Bank’s asset growth in the personal and business banking segment, whilst shoring up capital adequacy in the form of Tier II Capital, in line with Central Bank of Nigeria’s regulatory framework.

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The rights issue just announced will raise a gross amount of N20.4 billion taking its total Net Assets to about N140 billion and will still be lower than the likes of FCMB and Fidelity Bank based on 2015 Q1 results.

Stanbic IBTC shares lost 3.5 percent to close at N27 and has a year low of N24

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Tags: Rights IssuesStanbic IBTC

Comments 14

  1. Nairametrics says:
    June 10, 2015 at 7:27 pm

    Stanbic IBTC will raise N20b via rights issue (After selling N15b bonds) http://t.co/TOtX2hSMmO http://t.co/6G1tOCge1x

    Reply
  2. otimkpu1 says:
    June 10, 2015 at 7:27 pm

    Stanbic IBTC will raise N20b via rights issue (After selling N15b bonds) http://t.co/6yilzlnU73 http://t.co/dtfWeu98cC

    Reply
  3. ugodre says:
    June 10, 2015 at 7:27 pm

    Stanbic IBTC will raise N20b via rights issue (After selling N15b bonds) http://t.co/auy3q7FmIj http://t.co/y2s9nJlSYv

    Reply
  4. Nairametrics says:
    June 10, 2015 at 7:34 pm

    Stanbic IBTC will raise N20b via rights issue (After selling N15b bonds): Stanbic IBTC has announced it has ob… http://t.co/KJ7ZlFYCnF

    Reply
  5. Habibi2009 says:
    June 10, 2015 at 7:35 pm

    RT @otimkpu1: Stanbic IBTC will raise N20b via rights issue (After selling N15b bonds) http://t.co/6yilzlnU73 http://t.co/dtfWeu98cC

    Reply
  6. C_Lawan says:
    June 10, 2015 at 7:38 pm

    RT @Nairametrics: Stanbic IBTC will raise N20b via rights issue (After selling N15b bonds): Stanbic IBTC has announced it has ob… http://…

    Reply
  7. Naijawhatsup says:
    June 10, 2015 at 7:39 pm

    Stanbic IBTC will raise N20b via rights issue (After selling N15b bonds) http://t.co/fH2z3mG6Jm

    Reply
  8. NigerianBizNews says:
    June 10, 2015 at 8:05 pm

    Stanbic IBTC will raise N20b via rights issue (After selling N15b bonds) http://t.co/llnwojOeBp

    Reply
  9. Gersonkamakam says:
    June 10, 2015 at 8:20 pm

    RT @NigerianBizNews: Stanbic IBTC will raise N20b via rights issue (After selling N15b bonds) http://t.co/llnwojOeBp

    Reply
  10. ugodre says:
    June 11, 2015 at 1:08 am

    Stanbic IBTC will raise N20b via rights issue http://t.co/2jLo3yt75l http://t.co/vZE3JDpYj6

    Reply
  11. CSLStockbroking says:
    June 11, 2015 at 12:00 pm

    Stanbic IBTC will raise N20b via rights issue (After selling N15b bonds): http://t.co/3RpPfGC1Hl

    Reply
  12. ADIGUN100 says:
    June 11, 2015 at 12:18 pm

    RT @CSLStockbroking: Stanbic IBTC will raise N20b via rights issue (After selling N15b bonds): http://t.co/3RpPfGC1Hl

    Reply
  13. mrchukwumaz says:
    June 11, 2015 at 7:07 pm

    RT @Nairametrics: Stanbic IBTC will raise N20b via rights issue (After selling N15b bonds) http://t.co/TOtX2hSMmO http://t.co/6G1tOCge1x

    Reply
  14. mrchukwumaz says:
    June 11, 2015 at 11:12 pm

    RT @ugodre: Stanbic IBTC will raise N20b via rights issue http://t.co/2jLo3yt75l http://t.co/AqCqshnp9D

    Reply

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