FBN Holdings Plc has notified the Nigerian Exchange and the investing public of its proposed fresh capital raise of N350 billion.
The resolution was passed at the 12th annual meeting of Company held on Thursday 14, November, 2024. Part of the resolutions passed is stated thus:
That the Company be and is hereby authorized to undertake a capital raise of N350 billion. The capital raise transaction shall be implemented by one or more transaction through the issuance of shares by way of a public offering, private placement, rights issue in the Nigerian or international capital markets at the price(s) to be determined by way of a book building process or any other valuation method or combination of methods, in such tranches, series or proportions and at such periods or dates, coupon or interest rates, within such maturity periods and upon such terms and conditions as may be determined by the Board of Directors.