ADVERTISEMENT
  • Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, September 18, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Wema Bank’s N40bn Rights Issue Opens August

by Olushola Bello
3 years ago
in Business
wema bank
Share on WhatsAppShare on FacebookShare on XTelegram

Wema Bank Plc has said it has concluded plans to begin its N40 billion rights issue to the existing shareholders of the bank in August.

Advertisement

Wema Bank got shareholders nod at an Extraordinary General Meeting (EGM) to raise capital of up to N40 billion by way of a rights issue to the existing shareholders of the bank by issuing two new shares for every three shares held in the reconstructed capital of the bank.

The chief finance officer of the bank, Mr. Tunde Mabawonku told who made this known said that the plan was to start engagement in June and open the process formally in August.

Mabawonku noted that the bank will utilise the raised capital to drive growth phase for the bank and accelerate improvements in the share price, deepen value creation, increase credit creation, increase digital play with technology acquisition and increase geographic expansion.

“Others include deploy one stop digital platform to strengthen digital play for the bank, increased customer acquisition and retention in the youth, SME and financial excluded segments and include valuation of financial services business because of improved size,” he said.

Related News

Government Spends N330bn On Social Safety Nets In 9 Months

4 hours ago

Stock Market Lifted By N309bn In Single Day Trading

4 hours ago

Mabawonku noted that ALAT, the bank’s flagship digital banking solution, continues to deliver results and recently won the Best Digital Bank of the Year Award’ 2021 adding that the transaction value grew by 106 per cent to N1.46 billion in 2021 from N709.804 million recorded in 2020.

“Wema Bank expects to close the year strongly with improved returns to shareholders,” he said.

Join Our WhatsApp Channel

Tags: Wema Bank
SendShare10186Tweet6366Share

Other News Updates

Business

Government Spends N330bn On Social Safety Nets In 9 Months

2025/09/18
Business

Stock Market Lifted By N309bn In Single Day Trading

2025/09/18
Business

RMAFC Advocates Diversification For Economic Growth

2025/09/18
Business

Expert Champions Ethical Procurement, Sustainable Growth

2025/09/18
Business

Stakeholders Seek Stronger Protection For N24.6trn Pension, N3.3trn Insurance Assets

2025/09/18
Business

PalmPay Records 35m Customers As Users Win Smartphones

2025/09/18
Leadership Conference advertisement

LATEST

NAF Hits Terrorists’ Enclave, Kills Scores In Borno

MLS: Messi Set To Extend Inter Miami Deal

Dangote Refinery Says It Won’t Absorb Extra N1.5trn Costs Demanded By DAPPMAN

JUST-IN: Rivers Agog As Governor Fubara Returns To Office

ABC Suspends Jimmy Kimmel Indefinitely Over Controversial Charlie Kirk Comments

JUST-IN: 6 More Deaths Confirmed In Afriland Towers Fire

5,349 New Teachers Undergo Capacity Training

Troops Escort Farmers, Neutralise Armed Robber In Benue Operations

Police Arrest Man With Suspected Human Flesh, Recover Abandoned Vehicle In Oyo

Shortage Of Skilled Hands Threatens Coding, Python, Others In New Curriculum

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.