FBN Holdings Plc has launched its N150 billion rights issue via the Nigerian Exchange Group’s (NGX) advanced digital platform, NGX Invest.

This rights issue, structured on a one-for six basis, invites current shareholders to capitalise on this opportunity through NGX Invest’s seamless digital framework, which enhances accessibility for investors.

During the “Facts Behind the Rights Issue” briefing at the Exchange, FBN Holdings Group Managing Director, Mr. Nnamdi Okonkwo, underscored the strategic value of this capital raise.

He remarked: “We are set to leverage our diversified portfolio and shared resources to ‘do more with less’, refining cost structures, augmenting operational efficiencies, and driving revenue growth.

“Our ambitions extend to strategic geographical expansion, utilizing both traditional and digital channels, while exploring compelling business opportunities.”

Okonkwo also expressed enthusiasm for NGX Invest’s robust capabilities, noting, “this digital platform empowers us to connect with an expansive investor demographic, simplifying paticipation in our capital raising activities.”

With this move, FBN Holdings aligns itself with six other leading Nigerian banks that have utilised NGX Invest for the execution of eight public offerings and rights issues.

This initiative supports the Central Bank of Nigeria’s (CBN) revised capital adequacy directives, which require banks to reinforce their capital reserves by 2026. So far, NGX Invest has facilitated capital raises amounting to approximately ₦1.26 trillion (around $770 million) within the banking sector.

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