Shareholders of Sterling Financial Holdings Company Plc have approved plans to raise $400 million in fresh capital and undertake a major share reconstruction exercise as the financial services group positions itself for future growth and regulatory requirements.
The resolutions were passed at the company’s 3rd Annual General Meeting (AGM) held virtually on June 9, 2026, according to a notice signed by Sunny Kanabe, the company’s secretary, published on the Nigerian Exchange Group (NGX)
Under the approved resolutions, Sterling HoldCo will be authorised to raise up to $400 million or its equivalent in naira or other currencies through a range of instruments, including ordinary shares, preference shares, bonds, global depositary receipts, or a combination of these securities in both local and international capital markets.
The capital raise may be executed through public offers, private placements, rights issues, or other methods, subject to regulatory approvals.
Shareholders also approved a significant restructuring of
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