Sterling HoldCo Begins Share Allotment After Heavily Subscribed Public Offer
Story: written by Springnewsng Media limited February 19,2026
Sterling Financial Holdings Company Plc has commenced the allotment of shares from its 2025 Public Offer following regulatory approvals and strong investor demand, fully completing the recapitalisation of its two banking subsidiaries.
The Group offered 12.581 billion ordinary shares at ₦7.00 per share after securing final approvals from the Central Bank of Nigeria and clearance from the Securities and Exchange Commission. The offer, which opened on September 15, 2025, was oversubscribed, attracting applications for over 16.8 billion shares valued at about ₦117.88 billion.
After verification, valid applications from 18,276 investors amounted to 13.81 billion shares, representing a subscription rate of 109.79 percent. In line with the offer terms, Sterling HoldCo confirmed that all valid applications will be allotted in full, with only a few rejected due to non-compliance such as duplicate payments or failure to meet minimum subscription requirements.
The capital raise supports the Group’s long-term growth strategy, enabling responsible credit expansion, faster innovation, and sustained support for Nigerian businesses and households. Beyond banking, Sterling HoldCo will inject ₦10 billion into SterlingFI Wealth Management Limited to meet revised SEC capital requirements and strengthen revenue diversification.
Refunds for excess or unsuccessful applications, including accrued interest, will be paid by Pace Registrars Limited via RTGS or NIBSS transfers no later than February 17, 2026. Successful allotments will be credited electronically to investors’ CSCS accounts by the same date.
The offer also drew strong participation from first-time investors, broadening the Group’s shareholder base and reflecting rising retail confidence in Sterling HoldCo’s vision.
The allotment comes amid robust financial performance. The Group reported a 99 percent rise in profit before tax in its FY25 interim results, with gross earnings up 46 percent to ₦476.5 billion and total assets reaching ₦3.92 trillion. Customer deposits grew to ₦2.98 trillion, while shareholders’ funds increased by 39 percent to ₦424 billion.
Sterling HoldCo confirmed that Sterling Bank Limited and The Alternative Bank Limited are now fully compliant with the CBN’s revised minimum capital requirements, with final approvals received in January 2026. The Alternative Bank has expanded its national footprint and continues to deploy capital into impact-driven initiatives across transport and agriculture.
The Group thanked investors for their support, stating that its strengthened capital base, diversified earnings, and growing deposits position it for sustained growth and responsible economic impact across Nigeria.
