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Sterling Financial Holdings Company Plc Rights Issue Offer

Empowering Our Future: Sterling HoldCo Rights Issue

Sterling Financial Holdings Company Plc is excited to announce the commencement of its ₦153 billion capital raising through a Rights Issue. This strategic initiative marks a significant milestone in our growth strategy, aimed at fortifying our financial foundation, enhancing capital adequacy, and fueling organic growth within our banking subsidiaries.

The Company has obtained the approval the Securities and Exchange Commission (‘the Commission’) to execute a Rights Issue of Rights Issue of 7,197,604,531 Ordinary Shares of 50 kobo each at ₦4.00 per share, On the basis of One (1) new ordinary share for every Four (4) ordinary shares held as of August 2024”.

SUBSCRIPTION PERIOD

  • Offer Opens: August 2024
  • Offer Closes: September 2024

Rights Issue Details

  • Rights Ratio: [xx for every xx shares held]
  • Rights Price: [₦4.00 per share]

SUBSCRIPTION PERIOD

This phase of our capital-raising program is designed to raise up to ₦30 billion. The proceeds will be utilized to:

  • Strengthen the financial health of the HoldCo.
  • Enhance capital adequacy across our banking subsidiaries.
  • Accelerate our strategic ambitions, positioning Sterling Financial Holdings for sustainable growth.

How to Participate

We’ve made it convenient for you to participate in the Rights Issue through various channels:

Sterling Bank Mobile App

Available on the App Store and Play Store. Download Onebank.

New and existing customers who are shareholders of Sterling Financial Holdings can purchase shares directly through the app.

Visit any Sterling Bank branch near you to subscribe to the Rights Issue.

Frequently Asked Questions

What is a Rights Issue?

A Rights Issue offers existing shareholders the opportunity to purchase additional shares at a discounted price before the general public.

Your entitlement will be based on your current shareholding and the specified Rights Ratio.

The funds raised will be used to strengthen the financial base of Sterling Financial Holdings, enhance capital adequacy, and support the growth of our banking subsidiaries.

Yes, shareholders may apply for additional shares, which will be allocated on a pro-rata basis if there is oversubscription.

Contact our support team at [insert contact details] for assistance.

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