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Tag: Stanbic IBTC

  • Stanbic IBTC launches N148.7bn rights issue on NGX Invest platform

    Stanbic IBTC launches N148.7bn rights issue on NGX Invest platform

    Our collaboration with AquaEarth Consulting has positioned us to not only meet the growing demand for ESG-aligned practices but also play a leading role in advancing Nigeria’s sustainability agenda. We are proud to take this significant step towards building a greener and more inclusive future.”

    The Stanbic IBTC

    Holdings has launched its N148.7 billion Rights Issue on the Nigeria Exchange NGX  e-offering platform, NGX Invest.

    Presented at the Facts Behind the Rights Issue event  on Tuesday, the NGX disclosed that  the offer , which has been opened since January 15 and will close on February 21, 2025,

    The NGX  highlights the growing adoption of NGX Invest, a platform designed to streamline capital raising and enhance investor participation.

    The Rights Issue allows existing shareholders to subscribe to 2,944,772,083 ordinary shares of 50 kobo each at N50.50 per share, structured as five (5) new shares for every twenty-two (22) ordinary shares held as of October 29, 2024. Qualified investors can seamlessly take up their rights via the platform at https://invest.ngxgroup.com

    Speaking on the significance of NGX Invest, Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited (NGX), remarked, “The success of NGX Invest as a capital-raising platform reinforces our commitment to providing innovative solutions for issuers and investors alike. Stanbic IBTC’s confidence in our infrastructure reflects the opportunities we continue to create for sustainable growth in Nigeria’s financial markets.”

    Kunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings Plc, acknowledged NGX Invest as an essential tool in facilitating the rights issue. He noted that the platform would enable Stanbic IBTC to distribute its rights issues efficiently while meeting regulatory requirements and delivering value to its shareholders.

  • Stanbic IBTC Appoints Kunle Adedeji as Acting CEO

    Stanbic IBTC Appoints Kunle Adedeji as Acting CEO

    Stanbic IBTC Holdings Plc has appointed Kunle Adedeji as the acting Chief Executive Officer (CEO) following the retirement of Demola Sogunle, the company announced on Wednesday. Sogunle, who has served Stanbic IBTC for nearly 35 years, will retire on October 31, 2024.

    The announcement, signed by Chidi Okezie, the company secretary, praised Sogunle for his remarkable contributions to the growth of Stanbic IBTC Group.

    “After almost 35 years of dedicated service, Dr. Sogunle has made significant impact on Stanbic IBTC as a Group, guiding the organisation through numerous challenges and achievements,” the statement read.

    “The Board of Directors extends its profound gratitude for his unwavering commitment, visionary leadership, and significant contributions to the success of Stanbic IBTC Group over the years.”

    Sogunle has held various positions within the group, including CEO of Stanbic IBTC Pension Managers Limited from 2011 to 2015, and deputy CEO of Stanbic IBTC Bank Limited in 2015. He became the CEO of Stanbic IBTC Holdings in 2020.

    Adedeji, who is currently the Chief Financial and Value Management Officer, will assume the acting CEO role from November 1, 2024. Stanbic IBTC noted that Adedeji’s over 25 years of experience in the banking sector and his strong leadership within the organisation make him well-suited for the role.

    “Dr. Adedeji brings a wealth of experience and a strong track record of leadership within our organisation,” the company said.

    Adedeji holds an MBA in Finance from the University of Lagos and a Doctor of Business Administration (DBA) from the SBS Swiss Business School in Switzerland.