(This announcement appears as a matter of record only)
RC: 103022
Private Placement of 14,800,000,000 Ordinary Shares of
50 Kobo each at ₦ 17 . 50 per share Payable in full on Application
Announces the result of the Private Placement of 14,800,000,000 ordinary shares of 50 kobo each at ₦ 17 . 50
per share (the "Offer"), which opened on Wednesday, December 31, 2025 and closed on Wednesday, December 31, 2025.
- Twenty (20) applications for 16,776,200,000 ordinary shares were received, deemedvalid, accepted and presented to the Central Bank of Nigeria (CBN) for capital verification.
- Fourteen (14) applications for 12,238,058,000 ordinary shares were fully verified and allotted in full.
- One (1) application for 1,609,550,000 ordinary shares was partially verified, with 735,942,000 ordinary shares verified and allotted.
- Five (5) applications for 2,928,592,000 were not verified.
- In summary, the Offer recorded 113.4% in valid applications and achieved a subscription level of 87.7% upon conclusion of the CBN capital verification process.
The breakdown of the allotment is provided below:
Range | Applications Received | Units Applied For | A loted Applications | Units A loted | Value of Units A loted | ||
1 | - | 100,000,000 | 3 | 72,215,000 | 3 | 72,215,000 | 1,263,762,500 |
100,000,001 | - | 500,000,000 | 6 | 1,057,142,000 | 3 | 542,857,000 | 9,499,997,500 |
500,000,001 | - | 1,000,000,000 | 6 | 5,528,021,000 | 6 | 4,654,413,000 | 81,452,227,500 |
1,000,000,001 | - | 2,000,000,000 | 4 | 5,285,479,000 | 2 | 2,871,172,000 | 50,245,510,000 |
2,000,000,001 | - | 14,800,000,000 | 1 | 4,833,343,000 | 1 | 4,833,343,000 | 84,583,502,500 |
Total | 20 | 16,776,200,000 | 15 | 12,974,000,000 | 227,045,000,000 | ||
The above stated basis of alotment, as wel as this announcement has been cleared by the Securities and Exchange Commission (the
"SEC").
Shares alotted wil be credited to the CSCS account of alottees on April 30, 2026 by the Registrars to the Issue, First Registrars & Investor Services Limited, No. 2, Abebe Vilage Road Beside Nigerian Breweries Plc, Iganmu, Lagos. In accordance with the SEC Directive on Dematerialization of Share Certificates, alottees without CSCS accounts wil have their shares credited immediately at the CSCS using a Registrar Identification Number.
Also, return monies wil be credited to the bank account of affected investors who have provided valid bank account details on April
27, 2026.
Lead Issuing House
RC 1208597
PAC Capital LimitedJoint Issuing Houses
RC 1167339 CARDINALS
RC 739441
RC 1583596
RC 617327
Ava Capital Partners LimitedTONE
Partners Limited Cordros Advisory Services Limited COWRY ASSETManagement Limited
We Are Fidelity. We Keep Our Word
Contact Us: +234 700 3433 5489
RC 139396
FSL CapitalLimited
RC 217005
Futureview Financial Services Limited