Sterling Financial Initiates Share Reconstruction for Growth

Sterling Financial Holdings Company Plc has begun a share capital reconstruction, consolidating every 10 existing ordinary shares into one new ordinary share. This initiative is part of its strategy to improve capital-structure efficiency, support growth, and enhance its appeal to institutional and retail investors.

The company reported a 20.4% increase in profit after tax to N50.3 billion on gross earnings of N279.6 billion for the first half of 2026. Total assets reached N4.67 trillion, and shareholders’ funds rose by 27.8% to N547.7 billion.

Trading in the Group’s shares on the Nigerian Exchange Limited was temporarily suspended on September 23, 2026, for up to 10 working days to allow for the reconciliation of holdings. The reconstruction was approved by shareholders at the Annual General Meeting on June 9, 2026, and confirmed by a Federal High Court order on September 22, 2026.

The issued ordinary shares will decrease from 68,502,331,708 to 6,850,233,171, with a nominal value of 50 kobo each.