Sterling Financial Holdings Company Plc (Sterling HoldCo) has opened its Public Offer of 12.581 billion ordinary shares of 50 Kobo each at N7 per share. This amount to about N88billion.
The Offer for subscription opened on Wednesday, September 17 and is scheduled to close on Tuesday, September 30.
This Public Offer is a strategic initiative aimed at strengthening the capital adequacy of Sterling Bank Limited, capitalising SterlingFi Wealth Management, and supporting the Group’s strategic expansion opportunities.
At the 2nd Annual General Meeting (AGM) of Sterling Financial Holdings Company Plc held on July 11, the board got the shareholders approval to raise up to $400 million, its equivalent in Naira or other currencies through the establishment of a Shelf Programme.
The capital will be raised in tranches or otherwise over a specified period through the issuance of debt instruments (including, but not limited to, bonds that may be convertible or non-convertible, commercial papers, sukuks, medium or short-term notes, and debentures), preference shares, ordinary shares, global depositary receipts, or a combination thereof, in the Nigerian and/or international capital markets.
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It will also be raised by way of public offer, private placement, rights issue, or any other method, at prices, coupons or interest rates determined through book building or any other acceptable valuation method, or combination of methods, in such tranches, series or proportions, within such maturity periods and at such dates and upon such terms and conditions as may be determined by the Board of Directors of the Company.
Sterling Financial Holdings Company Plc reported a 157 percent year-on-year (YoY) surge in profit-after-tax (PAT) in its unaudited results for the half-year (H1) ended June 30, 2025.
The company demonstrated continued momentum in revenue growth, operational efficiency, and capital position.
The group’s PAT reached N41.78 billion, up from N16.26 billion in the same period last year. Earnings per share rose significantly to 89 Kobo from 56 Kobo, reflecting a consistent increment in value to shareholders.
Gross earnings climbed by 39.7 percent to N212.61 billion, compared to N152.20 billion for H1 2024, while interest income rose by 38.3 percent to N167.16 billion, and non-interest income increased by 45 percent to N45.45 billion, attesting to the Group’s strategic focus on revenue diversification.