Nume Ekeghe

Rand Merchant Bank Nigeria (RMB Nigeria) has announced the successful completion of the N148 billion rights issue by Stanbic IBTC Holdings PLC, reinforcing the bank’s capital position ahead of new regulatory thresholds set by the Central Bank of Nigeria (CBN).

In a statement issued by the firm, RMB Nigeria disclosed that it worked closely with Stanbic IBTC to structure, coordinate, and execute the transaction delivering what it described as a seamless capital raise process.

Speaking on the transaction, Executive Director & Head of Investment Banking at RMB Nigeria, Chidi Iwuchukwu, said:“We are proud to have led the successful and oversubscribed rights issue for Stanbic IBTC Holdings Plc, a landmark transaction that underscores the market’s strong conviction in the Group’s strategic direction and long-term fundamentals. The enthusiastic participation by existing shareholders is a powerful endorsement of Stanbic IBTC’s growth trajectory and resilience. This transaction also affirms RMB’s leadership in delivering bold, value-accretive capital market solutions at a defining moment in Nigeria’s banking sector recapitalisation.”

Also commenting, Chief Executive Officer of RMB Nigeria, Bayo Ajayi,  said: “The successful close of the Stanbic IBTC Holdings PLC rights issue marks a significant milestone in Nigeria’s ongoing banking sector recapitalisation. We are proud to have partnered with Stanbic IBTC on this important transaction, which not only strengthens their capital position but also reinforces investor confidence in their long-term strategy. This outcome reflects the strength of our capital markets platform and our continued focus on delivering impactful financial solutions that support the growth and resilience of Nigeria’s leading institutions.”