The Nigerian Change Restricted has admitted Wema {Bank} Plc’s Rights Difficulty of 8.572 billion strange Shares of fifty Kobo every at N4.66 per Share on the Every day Official Listing of NGX.
This was contained within the NGX weekly report seen by Nairametrics.
The extra shares listed on NGX arose from WEMA’s Rights Difficulty of 8,572,103,573 strange shares of fifty Kobo every at N4.66 per share, of which the supply was 99.9% subscribed.
The assertion reads:
“Buying and selling Licence Holders are hereby notified that an extra 8,572,022,765 strange shares of fifty Kobo every at N4.66 per share of WEMA {Bank} Plc (WEMA or the {Bank}) have been on Friday, 12 July 2024, listed on the Every day Official Listing of Nigerian Change Restricted (NGX).
The extra shares listed on NGX arose from WEMA’s Rights Difficulty of 8,572,103,573 strange shares of fifty Kobo every at N4.66 per share (The supply was 99.9% subscribed)”.
Based on the report, with the itemizing of the extra 8,572,022,765 strange shares, the overall issued and absolutely paid-up shares of WEMA has now elevated from 12,858,155,360 to 21,430,178,125 strange shares of fifty Kobo every.
Wema {Bank} not too long ago disclosed that it has efficiently concluded the primary tranche of its recapitalisation train, having secured all related regulatory approvals for the allotment of its N40 billion rights problem.
Its Managing Director, Mr Moruf Oseni, disclosed this in a press release made obtainable to newsmen.
Oseni said that as a forward-thinking and pioneering {bank}, the {financial} establishment, in December 2023, launched the N40 billion rights problem, which had been authorized by the Central {Bank} of Nigeria (CBN) and the Securities and Change Fee (SEC).
The CBN, March, launched a recapitalisation programme requiring business banks to lift recent capital.
That is in alignment with the minimal requirement for his or her respective banking licences inside a 24-month timeline, spanning April 1 to March 31, 2026.
Oseni said: “With this exceptional growth, Wema {Bank} has now efficiently raised the primary tranche of its plan within the minimal requirement laid down by the CBN.
“The {bank}’s resolve to retain its business banking licence with nationwide authorisation and the N40 billion rights problem is a step in that course.
“Our transfer to begin our capital elevate programme very early demonstrates our push for excellence. And with a robust emphasis on our digital play, we’re set to amass extra successes within the coming months.”
Wema {Bank} closed its final buying and selling day on Friday, July 12, 2024, at N6.65 per share on the Nigerian Inventory Change (NGX), recording a 0.7% drop from its earlier closing value of N6.70.
Wema started the 12 months with a share value of 5.60 NGN and has since gained 18.8% on the value valuation.


