Zenith Bank Plc successfully secures N350.46 billion via a hybrid capital offer, fulfilling the Central Bank of Nigeria’s (CBN) N500 billion capital requirement. The hybrid offer combines a rights issue and a public offer, both receiving overwhelming investor participation.
The rights issue comprises 5.23 billion ordinary shares priced at N36.00 per share, achieving 100.18% subscription. Meanwhile, the public offer for 2.77 billion shares at N36.50 per share is oversubscribed by 160.47%, resulting in the allotment of 4.44 billion additional shares. This success increases Zenith Bank’s share capital to N614.65 billion.
The funds will support the bank’s expansion plans in Africa and Europe, bolster technological infrastructure, and reinforce its position as a leading player in Nigeria’s financial sector.
Zenith Bank’s stock sees remarkable growth throughout 2024, closing the year strong at N45.50 per share despite mid-year volatility linked to CBN’s recapitalization mandate. The positive trajectory continues into January 2025, with over 8% gains recorded month-to-date, reflecting investor confidence in the bank’s strategy.
This milestone underscores Zenith Bank’s resilience and commitment to driving innovation and growth in the evolving financial landscape.
 N500 billion capital requirement. The hybrid offer combines a rights issue and a public offer, both receiving overwhelming investor participation.){kind=link}