FCMB Group Launches N160 Billion Public Share Sale to Meet Capital Requirement
FCMB Group PLC has initiated a N160 billion public share sale to bolster its bank subsidiaries and comply with the Central Bank of Nigeria's revised N500 billion minimum capital requirement for international banks. The offer, comprising 16 billion shares at N10 each, will run until November 6, 2025.
Following a successful oversubscribed share sale in 2024, FCMB aims to strengthen its financial position and sustain its international license. The group has witnessed robust growth, with a 72% increase in group profit before tax from 2022 to 2025, driven by its non-bank subsidiaries and digital initiatives.
Analysts anticipate continued growth momentum in the second phase of FCMB's recapitalization plan.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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