Market Capitalization | AUGUST 12 Target

Although the deadline set by the Central Bank of Nigeria is still over a year away, Banks in Nigeria seem to have made a resolve to hit the mark before the end of year 2024.?

For most, August 12th, 2024 has been announced as the deadline for the existing shareholders or new shareholders to buy shares at the present rate.

Guaranty Trust Holding Co

Guaranty Trust Holding Co has a goal to sell 9 billion of ordinary shares and that sale already started in July at N44.50 per share. Anyone who wants to buy, whether as an existing shareholder or this is your first time, you will need to do so fast as it closes on the 12th of this month.

Fidelity Bank

Fidelity Bank too requested for the extension of the Public Offer and Right issue by fourteen days and has been approved by The Securities and Exchange Commission.

The offer which was initially scheduled to close on Monday the 29th of July, 2024 will now close on Monday, 12 August 2024.

Shareholders of the bank have unanimously approved the absorption of surplus monies arising from the potential oversubscription of the Public Offer exercise.

Access Bank?

Access Holdings Plc announced the commencement of its N351 billion capital raising through a rights issue otherwise called an offer for subscription some weeks ago.

The offer, which opened for subscription on Monday, July 8, will close on Wednesday, August 14, 2024.

Just like Access Bank, Fidelity Bank and even GTbank who have made their shares public for more shareholders to buy shares to raise about N879 billion the revised minimum capital requirements set by the CBN, there is a new bank in the block.?

Zenith Bank Plc is set to raise N290 billion through a combination of a Rights Issue and a Public Offer.

The Rights Issue offers 5,232,748,964 ordinary shares of 50 Kobo each at N36.00 per share, while the Offer for Subscription presents 2,767,251,036 ordinary shares of 50 Kobo each at N36.50 per share.

The Rights Issue affords existing shareholders the opportunity to purchase additional shares in proportion to their current holdings and is being offered on the basis of one new ordinary share for every six existing ordinary shares held as of Wednesday, July 24, 2024.

On the other hand, the public offer for subscription is open to the general public and aims to attract new investors.

The race is underway.....

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