Zenith Bank Plc is set to raise a substantial N290 billion through a combined Rights Issue and Public Offer. This capital injection aims to bolster the bank’s expansion plans across Africa and internationally, invest in cutting-edge technology, and maintain its strong financial position.
Existing shareholders will have the opportunity to purchase additional shares in proportion to their current holdings, while the public offer will allow new investors to become part of the Zenith Bank family.
The bank’s leadership expressed confidence in maintaining its position as a leading dividend-paying institution and encouraged investors to participate in the offer. The Rights Issue will offer 5.23 billion shares at N36.00 per share, while the Public Offer will present 2.77 billion shares at N36.50 per share. The offer period is scheduled to commence on August 1 and conclude on September 9, 2024.
With this capital infusion, Zenith Bank aims to solidify its market leadership and continue delivering exceptional value to its shareholders.