Stanbic IBTC Lists New 232.9 Million Shares on NSE

By Dipo Olowookere

Additional 232,899,013 ordinary shares of 50 kobo each of Stanbic IBTC Holdings Plc have admitted on the trading platform of the Nigerian Stock Exchange (NSE), Business Post has learned.

These equities of the company were listed on the nation’s stock exchange on Thursday, September 12, 2019, a regulatory document seen by this newspaper confirmed.

It was gathered that the new shares were created by Stanbic IBTC from the scrip dividend offered to shareholders of the financial institution, who opted to convert their cash dividend of N1.50k per share to new equities of the firm for the full year ended December 31, 2018.

According to a notice from the NSE at the weekend, “232,899,013 ordinary shares of Stanbic IBTC Holdings Plc were listed on the Daily Official List of the Nigerian Stock Exchange on September 12, 2019.

“The additional 232,899,013 ordinary shares of 50 kobo each resulted from the scrip dividend offered to eligible shareholders of Stanbic IBTC who elected to receive new ordinary shares in lieu of cash dividends with respect to the N1.50 final dividend declared for the financial year ended December 2018.”

It was further stated that, “With this listing of 232,899,013 ordinary shares, the total issued and fully paid up shares of the company has now increased from 10,240,552,945 to 10,473,451,958 ordinary shares.”

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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