Zenith Bank Seeks N188.3bn from Rights Issue

In order to earn N188.37 billion from current shareholders, Zenith Bank Plc has appealed to the Nigerian Exchange (NGX) Limited for permission to sell 5.23 billion shares through a rights issue. July 24 is the day of qualifying for the rights issue.

In accordance with the formula of one (1) new ordinary share for every six (6) existing ordinary shares owned as of the close of business on Wednesday, July 24, 2024, Zenith Bank intends to list a rights issue of 5,232,748,964 ordinary shares of 50 Kobo each at N36 per share.

Zenith Bank applied for the approval through Stanbic IBTC Stockbrokers Limited, the lender’s its stockbroker, according to a statement by Godstime Iwenekhai, head of the issuer regulation department at NGX