Zenith Bank Plc has applied to the Nigerian Exchange (NGX) Limited for approval to raise N188.37 billion by selling 5.23 billion shares through a rights issue. The qualification date for this rights issue is July 24.
Thank you for reading this post, don't forget to subscribe!The bank plans to list 5,232,748,964 ordinary shares of 50 Kobo each at N36 per share. The rights issue is on the basis of one new ordinary share for every six existing ordinary shares held as of the close of business on Wednesday, July 24, 2024.
Zenith Bank submitted its application for approval through Stanbic IBTC Stockbrokers Limited, the lender’s stockbroker, as stated by Godstime Iwenekhai, head of the issuer regulation department at NGX.