FBN Holdings N150 Billion Rights Issue Closes December 30

Trading in FBN Holdings (FBN) Plc’s N149.575 billion rights issue will close on Monday, December 30.

The Holding Company had earlièr notified the investing public that it had obtained the approval of the Securities and Exchange Commission (SEC) to extend the period of the rights issue by 18 days.

Consequently, trading in the Company’s Rights closes on Monday, December 30 2024.

FBNH has been undergoing a rights issue for 5.983 billion ordinary shares priced at N25.00 each, on the basis of one new ordinary share for every existing six ordinary shares held as at the close of business on October 18, 2024, opened on November 4, 2024 and was supposed to close on December 12, 2024 before the extension.

The Company has reiterated that the proceeds of its N150 billion rights issue will be used to increase the tier 1 capital of its banking subsidiary, First Bank, as it grows its digital banking operations, and international activities.

As of September 30, 2024, the Corporation’s financial highlights include total assets of N27.49 trillion, N12.72 trillion in loans and advances, N21.22 trillion in customer deposits, N2.60 trillion in shareholders’ funds.

FBNH achieved N2.25 trillion in gross earnings with a return on equity (ROE) of 20.27 percent.
FBN Holdings Plc is a financial holding company and one of the largest financial services organisations in Africa.

It is a diversified and leading financial services Group offering a broad range of products and services through its subsidiaries, across commercial banking, merchant banking, capital markets, trusteeship and insurance brokerage to millions of customers.