Stanbic IBTC’s N148.7bn rights issue launches on NGX Invest

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, Chief Executive Officer of Nigerian Exchange Limited (NGX), Jude Chiemeka 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.”
Acting Chief Executive of Stanbic IBTC Holdings Plc, Kunle Adedeji 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.
In a recent statement, Group MD/CEO of Nigerian Exchange Group, Temi Popoola 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.”