Eterna Plc Launches N21.52bn Rights Issue for Growth Strategy
Eterna Plc has officially commenced a N21.52 billion rights issue, offering 978,108,485 ordinary shares at N22.00 per share. The move is a significant step in the company's long-term growth strategy in the downstream energy sector.
The capital raised will support various strategic initiatives, including expanding retail networks, upgrading plants, and investing in sustainable projects. Dr. Gabriel Ogbechi, the Chairman of the Board, highlighted the importance of the rights issue in consolidating Eterna's leadership position.
The company's resilient financial performance in Q3 2025, with revenues of N55.2 billion and profits of N1.39 billion, has laid a strong foundation for this capital raise.
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