Business

Stanbic IBTC seeks to raise N550 billion through rights issue and debt placement 

Stanbic IBTC Holdings Plc is looking to raise N150 billion through a rights issue programme and N400 billion through a debt issuance programme, amounting to a total of N550 billion. 


These were part of the resolutions during the group’s Annual General Meeting held on May 16, 2024, in Lagos, Nigeria.  


Another resolution of the AGM was to increase the group’s share capital from the current N6.478 billion to N8.25 billion by creating an additional 3,543,002,837 ordinary shares. Presently, Stanbic IBTC Holdings has 12,956,997,163 fully issued ordinary shares.