Zenith Bank Aims to Raise N188.37bn Through Rights Issue

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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.

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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.

Godwin Okafor, The Naija247news
Godwin Okafor, The Naija247newshttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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