Nigeria: FBN Holdings opens N150bn rights issue — Africa Links 24

FBN Holdings Plc has opened its Rights Issue, offering 5.983 billion ordinary shares at 50k each, priced at N25 per share, totaling N150 billion, to existing shareholders.

This offering is based on one new ordinary share for every six ordinary shares held as at October 18.

The chairman, FBN Holdings, Femi Otedola, said this in a statement on Sunday in Lagos.

According to Mr Otedola, the offer is part of the company’s plan  to recapitalise its commercial banking subsidiary,…