“FBN Holdings Cancels Shareholder Meeting for N300 Billion Capital Raise Plan”


FBN Holdings has cancelled its Extraordinary General Meeting (EGM) intended to seek shareholders’ approval for a capital raise of up to N300 billion. The cancellation notice, filed with the Nigerian Exchange Limited on Friday, did not specify the reasons for the decision.

Thank you for reading this post, don't forget to subscribe!

The meeting, initially scheduled to take place virtually on April 30, 2024, aimed to secure authorization for the proposed capital raise and address associated matters. FBN Holdings had previously disclosed plans to seek shareholders’ approval for this significant capital raise through public offering, private placement, or rights issue in either Nigerian or international capital markets.

This development comes amid the recent directive from the Central Bank of Nigeria (CBN) for banks to recapitalize, reflecting ongoing changes and challenges within the financial sector. FBN Holdings’ decision to cancel the EGM underscores the dynamic environment in which financial institutions operate, with implications for strategic planning and shareholder engagement.

Discover more from Naija247news

Subscribe to get the latest posts to your email.

Emman Tochi
Emman Tochihttps://naija247news.com
Emma Tochi is Naija247news Media Northern Bureau Chief, he's based in FCT Abuja. He overseas the northern operations of this business media

Share post:



More like this

NASCON grows turnover by 37%, assures Shareholders of Continuous Growth, Value Creation

May 23, 2024. Azonuchechi Chukwu. NASCON Allied Industries Plc has assured...

Mahamat Idriss Deby Sworn in as Chad’s President, Succeeding Late Father

N'DJAMENA, May 23 (Reuters) - Mahamat Idriss Deby was...

Nigeria Among Emerging Markets Attracting Big-Money Investors Amid Structural Shift

LONDON, May 23 - Large global investors are...

UK to introduce mandatory English test for migrant graduates

May 23, 2024. Azonuchechi Chukwu. Migrant graduates who go to the...

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading