FBN Holdings Plans N300 Billion Capital Raise via Public Offering and Rights Issue

FBN Holdings Plc has unveiled its strategy to raise up to N300 billion through a combination of public offering, private placement, and rights issue.

In a disclosure to the Nigerian Exchange Limited (NGX), the Group announced that the proposed capital raise is contingent upon approval from regulatory authorities and its shareholders at an Extraordinary General Meeting (EGM) slated for later this month.

The capital infusion, as outlined by the Group, may originate from either the domestic or international capital markets.

The disclosure stated: “The company intends to propose the following resolutions at the forthcoming EGM: To authorize the company to undertake a capital raise of up to N300,000,000,000.00 (Three hundred billion naira).

“The capital raise will involve the issuance of shares through a public offering, private placement, or rights issue in either the Nigerian or international capital markets. Prices will be determined through a book building process or other valuation methods, with terms to be set by the board of directors and subject to regulatory approvals.

“The capital raise may also be underwritten as deemed appropriate by the directors, pending regulatory approvals.”

Following the allocation of new ordinary shares, FBN Holdings intends to amend its memorandum and articles of association to reflect the adjusted share capital structure.


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