KEY POINTS
- Sterling Financial share allotment follows 109.79 percent oversubscription.
- N117.88 billion in investor demand received.
- Funds to strengthen lending and capital base.
Sterling Financial Holdings Company has begun allotting shares from its 2025 public offer after securing approvals from the Central Bank of Nigeria and the Securities and Exchange Commission.
The offer comprised 12.58 billion ordinary shares priced at N7.00 each. Opened on Sept. 15, 2025, the issuance drew 18,280 applications for 16.84 billion shares valued at N117.88 billion, according to company data.
After verification, 18,276 applications were deemed valid for 13.81 billion shares, making the offer 109.79 percent oversubscribed. All valid applications will be allotted in full, while a small number were rejected or adjusted due to duplicate payments or failure to meet the minimum subscription requirement of 1,000 shares.
Sterling Financial Share Allotment Details
The company will process refunds for excess or rejected subscriptions electronically and include interest where applicable. It will credit allotted shares directly to investors’ Central Securities Clearing System accounts, while the registrar will hold shares for non-CSCS holders temporarily until they complete the required documentation.
Sterling Financial said participation included a number of first-time investors in a financial services group, indicating a broader shareholder base.
According to Billionaires Africa, the capital raise forms part of a wider strategy to strengthen lending capacity, expand product development and increase financing to businesses and households.
Capital Strategy and Financial Performance
The group plans to inject N10 billion into SterlingFI Wealth Management Limited to comply with new minimum capital requirements introduced by the SEC in January 2026.
Sterling reported a 99 percent rise in profit before tax in its interim 2025 results. Gross earnings reached N476.5 billion, total assets stood at N3.92 trillion, customer deposits climbed to N2.98 trillion and shareholders’ funds increased to N24.0 billion. The cost-to-income ratio improved to 63 percent from 72 percent a year earlier.
Sterling operates through subsidiaries including Sterling Bank Limited, The Alternative Bank Limited and Sterling FI Wealth Management. The group said it has completed recapitalisation of its banking subsidiaries following regulatory approvals in January 2026.
