By SpringsNewsNG Media Limited – March 18, 2025

Sterling Financial Holdings Company Plc has listed an additional 1http://Sterling Financial Holdings Company Plc has listed an additional 16.67 billion ordinary shares on the Nigerian Exchange Limited (NGX) following the completion of its private placement.

The NGX, in a Market Bulletin issued on Monday, confirmed the listing, stating that the newly added shares arose from Sterling HoldCo’s private placement of 16,666,666,667 ordinary shares of 50 kobo each at ₦4.50 per share.

With this listing, Sterling HoldCo’s total issued and fully paid-up shares have increased from 28.79 billion to 45.46 billion ordinary shares of 50 kobo each.

In the bulletin signed by the Head of Issuer Regulation at NGX, Godstime Iwenekhai, the exchange stated:

“Trading License Holders are hereby notified that an additional 16,666,666,667 ordinary shares of 50 kobo each of Sterling Financial Holdings Company Plc were today, Monday, March 17, 2025, listed on the Daily Official List of Nigerian Exchange Limited.”

Meanwhile, SpringsNewsNG reports that the Central Bank of Nigeria (CBN) has approved the additional ₦75 billion capital raised by Sterling HoldCo to meet its new capital threshold. Following the private placement, the company also launched a rights issue in October 2024, offering existing shareholders an exclusive opportunity to increase their stakes and participate in its growth trajectory.

Sterling HoldCo’s latest capital raise aligns with the CBN’s recapitalization directive, positioning the company for greater financial stability and expansion.