Stanbic IBTC Completes N148bn Rights Issue

Stanbic IBTC Holdings Plc has successfully concluded its N148 billion rights issue, with a 122 per cent subscription level, reflecting strong shareholder confidence in the Group’s long-term strategy and fundamentals.

The capital raise, which forms part of Stanbic IBTC’s efforts to meet the Central Bank of Nigeria’s (CBN) new minimum capital requirements, received full regulatory clearance from both the CBN and the Securities and Exchange Commission (SEC).

RMB Nigeria, a member of the FirstRand Group, acted as Lead Issuing House for the transaction. The investment bank worked closely with Stanbic IBTC to structure and execute the deal under tight regulatory timelines, including coordinating investor engagement and navigating approval processes.

“We are proud to have led the successful and oversubscribed rights issue for Stanbic IBTC Holdings Plc – a landmark transaction that underscores the market’s strong conviction in the Group’s strategic direction,” said  executive director & head of Investment Banking at RMB Nigeria, Chidi Iwuchukwu,

Chief executive of RMB Nigeria, Bayo Ajayi, commenting said, “this milestone reinforces investor confidence in Stanbic IBTC’s growth outlook and highlights our capacity to deliver bold, value-accretive capital market solutions at a defining moment for Nigeria’s banking sector.”

Stanbic IBTC, a member of the Standard Bank Group, said the fresh capital would strengthen its balance sheet and support expansion across its banking, pension, and asset management businesses, while enhancing its contribution to financial inclusion and economic growth.