Sterling Bank To Raise N12.5billion Through Rights Issue

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Sterling Bank is seeking to raise N12.5 billion through a rights issue of about 5.889 billion ordinary shares of 50 kobo each at N2.12 per share. The shares have been pre-allotted on the basis of three new ordinary shares of 50 kobo each for every eight ordinary shares of 50 kobo each held as at May 20, 2013. Application list for the rights issue opens on Monday June 24, 2013 and will run till July 31, 2014.

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Sterling Bank raises N12.5bn in rights issue