Sterling Holdings Lists Newly Reconstructed 6,850,233,171 Shares on NGX

By Aduragbemi Omiyale

The newly reconstructed 6,850,233,171 ordinary shares of Sterling Financial Holdings Company Plc have been listed on the Nigerian Exchange (NGX) Limited at N77.00 per unit.

The stocks were listed on the daily official list of Customs Street on Thursday, October 8, 2026, after the delisting of the previous 68,502,331,708 ordinary shares of the financial services company.

Recall that last month, Business Post reported that Sterling Holdings was carrying out a share reconstruction exercise aimed at converting every 10 existing ordinary shares held by shareholders into one new ordinary share.

This led to the suspension of trading of the organisation’s securities on the stock exchange on Wednesday, September 23, 2026, to allow the Central Securities Clearing System (CSCS) Plc and Pace Registrars Limited to reconcile holdings and update the shareholder register.

For individual shareholders, every 10,000 existing shares will become 1,000 reconstructed shares, with a corresponding tenfold adjustment to the reference price. This preserves the calculated holding value at the point of adjustment. Actual trading prices may rise or fall when trading resumes.

This reclassification leaves total shareholders’ funds unchanged, and it does not constitute a fresh capital raise or a cash distribution.

According to Sterling Holdings, the revised share structure is expected to support more efficient price formation and strengthen its appeal to institutional and retail investors.

At the market today, the newly reconstructed stocks were listed, with the embargo on trading in the shares lifted by the NGX Regulation Limited.

“The market is hereby notified that the entire 68,502,331,708 ordinary shares of Sterling Financial Holdings Company Plc were delisted from the daily official list of Nigerian Exchange Limited (NGX) today, October 8, 2026, while the newly reconstructed issued share capital of 6,850,233,171 ordinary shares of 50

Kobo each were also today, Thursday, October 8, 2026, listed on the daily official list of NGX at N77.00 per share.

“The delisting of 68,502,331,708 ordinary shares and listing of 6,850,233,171 ordinary shares on NGX is pursuant to the approval received from the company’s shareholders at its Annual General Meeting (AGM) of June 6, 2026, and the no-objection received from the Securities and Exchange Commission (SEC).

“Consequently, following the completion of the share reconstruction, the suspension placed on the securities of the company has been lifted,” a notice signed by the Head of the Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, stated.