Constancy {Bank} Plc will increase share capital to N36.7 billion, reveals issuance technique 

Constancy {Bank} Plc has introduced a rise in its issued share capital with the addition of 20,000,000,000 atypical shares at N0.50 every, elevating its whole share capital to N36.7 billion.

This decision was accepted through the firm’s Extraordinary Normal Assembly held on February 6, 2025, and was subsequently detailed in a disclosure printed on the NGX the identical day, signed by the corporate secretary, Ezinwa Unuigboje.

The issued capital rose from N26.7 billion, divided into 53,400,000,000 atypical shares of N0.50, to N36.7 billion by the creation of those further 20,000,000,000 atypical shares of N0.50 every.

Based on the disclosure, the newly issued share capital will rank pari passu with the present atypical shares licensed by the Board of Administrators.

The disclosure additional acknowledged:   

“That the Board be and is hereby licensed to boost further capital as much as the brand new issued Share Capital of the Firm by the use of Non-public Placements, Rights Points, Public Gives, or another mode or mixture of modes, in such tranches, collection, quantities, pricing or proportions and on such phrases and circumstances and at such instances as could also be decided by the Board, topic to acquiring the requisite regulatory approvals.”   

Moreover, the Board resolved that as much as 20,000,000,000 atypical shares shall be issued by a number of personal placements, restricted to 30% of the Firm’s current shares, to a number of traders as decided by the Board. They’ll oversee the specifics, together with timing, pricing, and phrases for traders.

What to know 

• Constancy {Bank}’s issued share capital has elevated to N36.7 billion by the creation of a further 20,000,000,000 atypical shares.
• Issued capital rose from N26.7 billion, divided into 53,400,000,000 atypical shares of N0.50, to N36.7 billion.
• The decision directs the Board to implement all selections made through the Extraordinary Normal Assembly, together with executing essential paperwork, appointing advisors, securing regulatory approvals, and submitting required returns.

Market efficiency   

Constancy {Bank} Plc recorded a year-to-date efficiency of 60.55% in 2024.

• In 2024, the inventory opened at N10.65 however confronted a interval of stagnation through the first quarter, finally closing at N9 in April.
• Momentum started to shift in Might, steadily rising till September, when the inventory crossed the N13 mark, closing at N13.90.
• Since then, it has largely closed in constructive territory, ending December 2024 at a share worth of N17.50, with a market quantity of 530 million shares.

This bullish development has continued into 2025, with the inventory additionally closing in January 2025 at N19.45 and a market quantity of 292 million shares.