FBN Holdings Plc is offering a rights issue of 5,982,548,799 ordinary shares priced at N25 per share, open until Monday, December 30. This company is the non-operating holding company of First Bank of Nigeria Limited, a commercial bank with operations in 10 countries.
The rights issue allows for 1 new ordinary share for every 6 existing shares held as of Friday, October 18, 2024. Shares not subscribed by the deadline will be allotted on a pro-rata basis to shareholders who have applied and paid for additional shares.
As of September 30, 2024, FBN Holdings Plc has total assets of N27.49 trillion, N12.72 trillion in loans and advances, N21.22 trillion in customer deposits, and N2.60 trillion in shareholders’ funds. The company achieved N2.25 trillion in gross earnings with a return on equity of 20.27 percent.
Ranked as the 15th most valuable stock on the NGX with a market capitalization of N962 billion, FBN Holdings Plc is a leading financial services group with diverse offerings through its subsidiaries in commercial banking, merchant banking, capital markets, trusteeship, and insurance brokerage.
FBN Holdings has a strategic oversight over its subsidiaries to drive group coordination and synergies for innovative financial solutions. With a strong management team, the company aims to become a top banking group in Africa by 2027.
The company’s direct subsidiaries include First Bank of Nigeria Limited, FBNQuest Merchant Bank Limited, and FBNQuest Capital Limited, among others. It also has fifteen indirect subsidiaries across different countries.
The content writer, Iheanyi Nwachukwu, has over 18 years of journalism experience in banking, finance, and capital markets. Holding a BSc in Economics and an MSc in Management, Iheanyi has received multiple awards for his work and is currently Assistant Editor at BusinessDay.
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