Wema Bank's Share Capital Surges 66% on NGX Listing
Wema Bank's share capital surged by 66% with the listing of 14.1 billion additional ordinary shares on the Nigerian Exchange Limited (NGX) on October 5. This increase followed a successful Rights Issue earlier in the year, strengthening the bank's capital base and expanding its market operations.
The Rights Issue offered two new shares for every three existing shares held as of March 5, 2025. The listing of the additional shares has boosted investor confidence in Wema Bank, especially in its digital transformation and innovative banking services like ALAT.
Market analysts anticipate increased liquidity and interest in the bank's stock due to the listing.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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