• Contact Us
  • About Us
Tuesday, June 3, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Companies and Markets

Stanbic IBTC’s N148.7bn Rights Issue Launches on NGX Invest

metro by metro
January 22, 2025
in Companies and Markets
0
Foreign Inflow On NGX Drops To N11bn On Unstable Naira, Interest Rate
0
SHARES
0
VIEWS

 

 

Read Also

Shares Dither, US Dollar Climbs On Rosy Economic Data

Shares Dither, Oil Slides As Tariffs Fan Growth Worries

Oil Rebounds As Ukraine Ceasefire Deal Remains Elusive

The Nigerian Exchange’s (NGX) e-offering platform, NGX Invest, continues to revolutionize capital-raising in Nigeria with the addition of Stanbic IBTC Holdings Plc’s N148.7 billion rights issue. Presented at the Facts Behind the Rights Issue event, the Rights Issue, which has been open since January 15 and will close on February 21, 2025, highlights the growing adoption of NGX Invest, a platform designed to streamline capital raising and enhance investor participation.

The rights issue allows existing shareholders to subscribe to 2,944,772,083 ordinary shares of 50 kobo each at N50.50 per share, structured as five (5) new shares for every twenty-two (22) ordinary shares held as of October 29, 2024. Qualified investors can seamlessly take up their rights via the platform at https://invest.ngxgroup.com

Speaking on the significance of NGX Invest, Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited (NGX), remarked, “The success of NGX Invest as a capital-raising platform reinforces our commitment to providing innovative solutions for issuers and investors alike. Stanbic IBTC’s confidence in our infrastructure reflects the opportunities we continue to create for sustainable growth in Nigeria’s financial markets.”

Kunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings Plc, acknowledged NGX Invest as an essential tool in facilitating the rights issue. He noted that the platform would enable Stanbic IBTC to distribute its rights issues efficiently while meeting regulatory requirements and delivering value to its shareholders. He expressed deep appreciation for the confidence shown by shareholders, emphasizing the strategic importance of the rights issue. Adedeji emphasized that the funds raised would drive growth in critical sectors such as oil and gas, with a focus on Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), and gas infrastructure. The proceeds will also support power sector reforms, including divestments in distribution companies (Discos), and explore opportunities in the debt capital market and sustainable finance to foster economic transformation.

ALSO  READ:Foreign Inflow On NGX Drops To N11bn On Unstable Naira, Interest Rate

In a recent statement, Temi Popoola, Group MD/CEO of Nigerian Exchange Group, highlighted the broader impact of NGX Invest, “At NGX Group, we are committed to fostering innovation that drives economic growth and empowers issuers to achieve their goals. NGX Invest exemplifies how we continue to position the Exchange as the preferred destination for capital formation in Africa.”

As Nigeria’s financial sector evolves to meet regulatory benchmarks, NGX Group remains at the forefront, offering cutting-edge tools that attract investments, engage stakeholders, and drive sustainable economic transformation.

Previous Post

Human behaviour and science, together, can defeat malaria

Next Post

PROJKONNECT Announces N375 Mn  Five Yrs  Partnership-Driven Sponsorship For Digital Africa Conferencr & Exhibition

Related Posts

Shares Dither, US Dollar Climbs On Rosy Economic Data
Companies and Markets

Shares Dither, US Dollar Climbs On Rosy Economic Data

May 28, 2025
Shares Dither, Oil Slides As Tariffs Fan Growth Worries
Companies and Markets

Shares Dither, Oil Slides As Tariffs Fan Growth Worries

April 30, 2025
Oil Prices Down On Swelling US Crude Stocks, Easing Middle East Tensions
Companies and Markets

Oil Rebounds As Ukraine Ceasefire Deal Remains Elusive

March 14, 2025
Companies and Markets

NGX Group, CSCS, Others Rally Stakeholders On Gender Equality In Nigeria

March 9, 2025
Next Post
PROJKONNECT Announces N375 Mn  Five Yrs  Partnership-Driven Sponsorship For Digital Africa Conferencr & Exhibition

PROJKONNECT Announces N375 Mn  Five Yrs  Partnership-Driven Sponsorship For Digital Africa Conferencr & Exhibition

Oil Prices Down On Swelling US Crude Stocks, Easing Middle East Tensions

Oil Inches Up On Supply Concerns, Weaker Dollar

June 3, 2025
Nigerian Military Fighter Jet Mistakenly Kills 20 Vigilantes In Zamfara

Nigerian Military Fighter Jet Mistakenly Kills 20 Vigilantes In Zamfara

June 2, 2025
President Tinubu Addresses Joint Sitting Of NASS Wednesday, May 29, 2024.

FG Declares June 6,9 Public Holidays To Mark Eid-UI-Adha Celebrations

June 2, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version