Stock market: Zenith Bank wants to raise 290 billion naira on the Nigerian stock exchange : Orishas-finance

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Stock market: Zenith Bank wants to raise 290 billion naira on the Nigerian stock exchange

14/08/2024

Source : ORISHAS-FINANCE

Categories: Index/Markets

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Stock market: Zenith Bank wants to raise 290 billion naira on the Nigerian stock exchange

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Dans le but de renforcer ses efforts d' expansion offshore, Zenith Bank Plc has begun the process of raising 290 billion naira in new capital through legal missions and a public offer. The announcement was made by the Group CEO/CEO of Zenith

Bank Plc, Adaora Umeoji.

CEO Adaora Umeoji said that the bank was issuing 5.23 billion shares at 36 N each to existing shareholders and 2.77 billion shares at 36.50 N each to existing shareholders and 2.77 billion shares at 36.50 N each to the public. According to her, 65% of the shares would be awarded to existing shareholders through the issuance of rights, while 35% would be available to the public through the public offering.

Zenith Bank Plc, considered a powerhouse in the Nigerian banking sector, has consistently shown exceptional financial performance.

She also indicated that a significant portion of the funds will be allocated to expanding its presence in Africa and other regions, improving IT infrastructure and supporting the real sector, with a strategic focus on launching operations in Paris to strengthen its presence in the French-speaking market. African. The bank recorded a robust growth trajectory in fiscal 2023 with earnings per share of N$21.55, translating into an impressive earnings return of around 60%

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