Stanbic IBTC Shareholders Approve N400 Billion Debt and N150 Billion Equity Capital Raise


At the 12th Annual General Meeting of Stanbic IBTC Holdings Plc in Lagos, shareholders approved significant capital raising plans proposed by the Board.

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Key Approvals:

  1. N400 Billion Debt Issuance Programme: Shareholders authorized the establishment of a debt issuance programme, allowing the company to issue up to N400 billion in debt securities. This includes various forms of debt obligations such as senior unsecured or secured, subordinated, convertible, preferred, and equity-linked securities. The programme is subject to regulatory approvals and will be issued through methods like public offerings, private placements, and book building.
  2. N150 Billion Equity Capital Raise: Shareholders also approved raising an additional N150 billion in equity capital through a Rights Issue or an offer for subscription. The Directors are authorized to determine the terms, tranches, and conditions of the capital raise. In the event of an under-subscription, the Directors can offer unsubscribed shares to existing shareholders or other interested investors.

Dividend Payment:

Shareholders approved a 50 kobo dividend payment for the financial year ending December 31, 2023.

Authorization Details:

The Directors are authorized to enter into agreements and execute necessary documents for the N400 billion debt programme and to appoint professional parties required for its execution. Similarly, they are authorized to manage the equity capital raise process, ensuring compliance with regulatory directives and facilitating the actualization of the capital raising initiatives.

Peter Okafor
Peter Okafor
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