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Official: Sterling Bank’s N19.8billion Private Placement Was 93% Subscribed

Sterling Bank Plc has announced results of its Private Placement. It put on offer 7,471,698,113 ordinary shares of 50 kobo each at a price of N2.65 per share It also confirms the offer was 96.3% subscribed Share certificates and CSCS accounts of successful allottees will be dispatched on or before January 23, 2015 Last November […]

Nairametrics

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  • Sterling Bank Plc has announced results of its Private Placement. It put on offer 7,471,698,113 ordinary shares of 50 kobo each at a price of N2.65 per share
  • It also confirms the offer was 96.3% subscribed
  • Share certificates and CSCS accounts of successful allottees will be dispatched on or before January 23, 2015
  • Last November Sterling Bank indicated that they were selling 7.4billion unit of shares to Messrs.’ Silverlake Investments via a private placement.
  • We believe this announcement confirms this deal
  • Sterling Bank had 21.5billion units of shares outstanding before the conclusion of this private placement
  • Sterling Bank is currently trading at N2.30 and has a year low of N2.09

 

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