Official: Sterling Bank's N19.8billion Private Placement Was 93% Subscribed

Official: Sterling Bank’s N19.8billion Private Placement Was 93% Subscribed

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 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

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