Wema Bank: the institution launches a rights issue to raise 150 billion naira : Orishas-finance

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Wema Bank: the institution launches a rights issue to raise 150 billion naira

16/04/2025

Source : ORISHAS FINANCE

Categories: Index/Markets

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Wema Bank: the institution launches a rights issue to raise 150 billion naira

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Le jeudi 10 avril 2025, Wema Bank, a pioneer in digital banking in Nigeria, has announced the imminent launch of a rights offering aimed at raising 150 billion naira (about 94 million USD

The transaction, which began on April 14, involves 14,286,785,417 ordinary shares of 50 kobos each, at a price of 10.45 naira per share. These funds are intended to strengthen WEMA Bank's position in the Nigerian market, to develop its lending services and to improve its technology. The bank specifies that shareholders registered on 5 March 2025 will be entitled to two new shares for each lot of three shares purchased.

This operation aims to support Wema Bank's long-term growth strategy by, in particular, strengthening its lending portfolio to SMEs and companies in key sectors, while modernising its technological systems.

According to the bank's management, “this is a key step that will consolidate the vision of becoming a Systemically Important Bank (BIS) and creating value for our shareholders. The constant growth in our key performance indicators and in our market share reflects the success of our strategic initiatives and the trust that our shareholders have placed in us.”

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