Sterling Financial Initiates Share Reconstruction in 2026

Sterling Financial Holdings Company Plc has commenced an approved share capital reconstruction, consolidating every 10 existing ordinary shares into one new ordinary share. This exercise follows the expansion of its equity base through multiple capital raises and aims to improve capital-structure efficiency, support strategic growth, and strengthen its positioning with investors.

In the first half of 2026, the company reported a profit after tax increase of 20.4% to N50.3 billion on gross earnings of N279.6 billion, with total assets reaching N4.67 trillion and shareholders’ funds increasing by 27.8% to N547.7 billion. Trading in the group’s shares on the Nigerian Exchange Limited was temporarily suspended on 23 September 2026 for up to 10 working days to facilitate the reconstruction.

Shareholders approved the reconstruction at the Annual General Meeting on 9 June 2026, and the Federal High Court confirmed the share reduction exercise on 22 September 2026. The restructuring does not involve a fresh capital raise or cash distribution, and accrued dividend entitlements remain intact.