Zenith Bank, 12 Others Raise N1.899trn From New Share Listings

Zenith Bank Plc and 12 other companies have listed new shares worth N1.899 trillion on the Nigerian Exchange (NGX) in the first six months of the year.

Data obtained from the NGX showed that in H1, 2025, the market saw 13 companies listing new issuances, buoyed by new listings and supplementary listings, bringing the total value of equity issues to N1.899 trillion.

This influx of new capital underscores the growing interest of companies in tapping into the stock market to raise funds for expansion and growth.

The NGX has seen a surge in listings, driven by strong market fundamentals and investor-friendly policies.

Nine financial institutions listed their offers to meet  the Central Bank of Nigeria (CBN) minimum capital requirement.

Under new listings, Legend Internet listed by introduction of two billion shares valued at N11.280 billion.

Under supplementary listings, Multi-Trex Integrated Foods listed a total  of 1.720 billion shares worth N3.250 billion, while Ellah Lakes listed 1.104 billion shares valued at N3.092 billion on the NGX. Lasaco Assurance listed shares valued at N11.100 on the Exchange.

Stanbic IBTC Holdings, Sterling Financial Holdings Company, United Bank for Africa (UBA), First Holdco, Fidelity Bank, Zenith Bank, FCMB Group and Access Bank listed N148.711 billion, N101.64 billion, N239.396 billion, N149.564 billion, N175.85 billion, N350.46 billion, N144.560 billion, N209.408 billion and N351.209 billion respectively.

Speaking at the Capital Market Correspondents Association of Nigeria (CAMCAN) workshop in Lagos, the Chairman of the  NGX Group Plc, Umaru Kwairanga, stated that the banking sector recapitalisation had long been recognised as a cornerstone for building resilient financial institutions and a thriving economy.

He said, “it is essential not just for regulatory compliance but for driving innovation, fostering economic stability, and equipping banks to fulfil their critical role in resource allocation and development.  At the Nigerian Exchange Group, we remain unwavering in our commitment to creating a capital market ecosystem that supports these objectives.

“The capital market serves as a critical enabler in this process, acting as a bridge between issuers seeking to raise capital and investors looking for opportunities to create value.  At NGX Group, our mission is to ensure that this bridge is efficient, accessible, and transparent. It is against this backdrop that we introduced NGX Invest, a digital platform transforming the way public offerings and rights issues are distributed in Nigeria.

“Since its inception, NGX Invest has facilitated over N1.26 trillion in capital-raising efforts by banks, including notable players such as FBN Holdings, Zenith Bank, GTCO, FCMB Group and Access Bank amongst others. These achievements underscore the potential of the capital market to support various sectors’ growth while fostering investor confidence through transparency and efficiency.”

Also, investment banker and stockbroker, Tajudeen Olayinka stated that it is necessary for listed companies to raise fresh capital amid present macroeconomic challenges.

He stated that reforms in the foreign exchange market, among others, have weakened listed companies’ balance sheets that required urgent fresh capital to stay afloat and expand business frontline.

He noted that the Nigerian capital market has the potential to assist companies in the quest to fresh capital exercise, stressing on its robust liquidity.

Meanwhile, the director-general of the Securities & Exchange Commission (SEC), Dr. Emomotimi Agama stated that the Commission’s preparedness to improve the regulatory framework with regards to borrowing by governments and corporates.

He noted that for corporates, the Commission was changing the landscape with the new rules on Central Counter Parties (CCPs), adding that the new rules on CCPs had become so critical for Nigeria’s development, especially for corporates in raising capital.

“As a Commission we have established those new rules and they are going to be functional in 2025. We want to make borrowing a seamless and effortless process for Nigerian companies.