FBN Holdings will commence a share sale on Monday through which it will offer 5.98 billion ordinary shares to current shareholders for a chance to invest more and scale up their stakes in the financial services group.
The details are contained in an offer prospectus seen by PREMIUM TIMES Friday.
The transaction allows shareholders with shares in the company as of 18 October ownership of one new share for every six already held at the cost of N25 per unit.
The rights issue will run for a little more than five weeks through 12 December, according to the lender.
Commercial banks across Nigeria are in the race to shore up their capital base on the road to meeting the deadline of 31 March 2026 for new minimum capital requirements as set by the central bank.
FBN Holdings’ top-tier peers like Access Holdings, GTCO, United Bank for Africa and Zenith, all of which operate internationally and so are expected to ramp up their capital base to at least N500 billion, have completed…