According to the lender, the capital raise will be a combination of a rights issue and a public offer.
On the other hand, the public offer is open to the general public and aimed at attracting new investors.
The Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr Adaora Umeoji, said, “Today, we signed the transaction documents with respect to Zenith Bank’s N290bn rights issue and public offer. This is slightly above the N230bn required for us to meet the CBN’s minimum recapitalisation requirement.
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