Zenith Bank Plc has successfully raised a total of ₦350.4 billion through its recently concluded hybrid Rights Issue and Public Offer, securing full regulatory approval from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).
The Rights Issue, which comprised 5,232,748,964 Ordinary Shares of 50k each at ₦3 by6.00 per share, was 100.18% subscribed, with a total of 5,232,748,964 ordinary shares allotted. The Public Offer, consisting of 2,767,251,036 Ordinary Shares of 50k each at ₦36.50 per share, was 160.47% subscribed, with 4,440,587,250 Ordinary Shares allotted.
This development has positioned the Bank as one of the few banks in Nigeria to meet and surpass the Central Bank of Nigeria's N500 billion minimum capital requirements for Banks with International Authorization—well ahead of the March 2026 regulatory deadline. The bank's share capital would now rise to ₦614.65bn, which is ₦114.65bn above the regulatory minimum requirement.
Advisors
Lead Issuing House: Stanbic IBTC Capital Limited
Joint Issuing Houses; Quantum Zenith Capital & Investments Limited, CardinalStone Partners Limited; Chapel Hill Denham Limited; Coronation Merchant Bank Limited, Meristem Nigeria Capital Limited; and Vetiva Capital Management Limited Advisory Services Limited
Solicitor To The Issuer: Banwo & Ighodalo & Ighodalo
Solicitor To The Offer/Issue
Olaniwun Ajayi Ajayi LP
Auditor: PwC Nigeria
Reporting account (Public Offer): KPMG Nigeria
.jpg)
.webp)