Eterna Urges Shareholders to Buy N21.5bn Rights Issue Via NGX Invest Platform

By Aduragbemi Omiyale

The N21.5 billion rights issue of Eterna Plc has commenced, with shareholders encouraged to participate in the exercise through the NGX Invest platform.

The rights issue began today, Monday, January 12, 2026, and is expected to close on Wednesday, February 18, 2026, a notice signed by the company secretary, Mr David Edet, disclosed.

Proceeds from the exercise will be deployed to support several strategic initiatives, including the expansion of Eterna’s retail network, upgrading of its lubricant blending plant, enhancement of LPG retail assets, acquisition of commercial delivery assets, expansion of aviation fuelling operations, and investments in ESG-related projects aligned with the company’s sustainability objectives.

Business Post reports that a total of 978,108,485 ordinary shares of 50 Kobo each are available for grabs at the price of N22.00 each.

The stocks are being offered to existing shareholders on the basis of three new ordinary shares for every four ordinary shares held as of November 27, 2025.

Apart from buying equities of the rights issue via the NGX Invest platform, shareholders can also purchase by completing the paper participation form.

However, completed participation forms, together with payment or evidence of payment for the full amount payable, must be submitted no later than Wednesday, February 18, 2026, to any of the issuing houses or receiving agents listed in the rights circular.

The rights issue provides existing shareholders with the opportunity to increase their equity holdings in the organisation, thereby reinforcing their participation in and support for Eterna’s long-term growth strategy.

The firm disclosed in the disclosure filed to the Nigerian Exchange (NGX) Limited that the rights issue received the approval of the Securities and Exchange Commission (SEC).

It advised shareholders “to contact their stockbrokers and/or financial advisors for further information regarding the offer.”