Sterling HoldCo Launches N88.1bn Share Allotment Process

Sterling HoldCo has officially begun the allotment process for its 2025 public offer, which involves 12,581,000,000 ordinary shares priced at 50 kobo each, totaling an estimated N88.1 billion. This follows the receipt of final approval from the Central Bank of Nigeria (CBN) and clearance from the Securities and Exchange Commission (SEC).

The public offer, which opened on September 15, 2025, attracted strong participation, with the company receiving 18,280 applications for 16,839,524,401 ordinary shares valued at approximately N117.88 billion. After a thorough verification process, valid applications for 18,276 shareholders were confirmed, representing a subscription level of 109.79%.

The company will allot shares to all compliant investors, with only a small number of applications being partially rejected due to non-compliance with offer terms. The capital raised will enhance Sterling HoldCo's credit capacity and support its subsidiaries, including a N10 billion injection into SterlingFi Wealth Management to meet minimum capital requirements.

The allotment process will ensure refunds for excess applications and interest payments are processed efficiently.