FBN Holdings Plc has notified the Nigerian Exchange and the investing public of its intention to raise fresh capital of N300 billion via public offering, private placement and Rights Issue.
In a statement signed by the Company Secretary, Adewale Arogundade, the Company’s Extra-Ordinary General Meeting (EGM) has been scheduled to hold on 30 April 2024.
At the EGM, the following resolutions are to be considered:
That the Company be and is authorized to undertake a capital raise of up N300 billion. The capital raise transaction shall be by issuance of shares via a public offering, private placement, rights issue in the Nigerian or international capital markets, at 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 other terms and conditions as may be determined by the Board of Directors.