Abbey Bank names shareholders after private placement - Punch Newspapers
Abbey Bank Plc has announced five significant shareholders following the completion of its private placement of 26.56 billion ordinary shares. The bank disclosed in a notice to the Nigerian Exchange Limited (NGX), shareholders and the investing public on Wednesday that the private placement involved 26,562,647,265 ordinary shares of 50 kobo each, issued at N2.43 per share. Abdulganiyu Adeola emerged as the bank’s largest shareholder with 6.996 billion shares, representing a 19.05 percent stake. Herel Limited holds the second-largest stake, with 6.996 billion shares, equivalent to 18.48 per cent of the bank. Archetype Energy Services Limited holds 6.333 billion shares, representing 17.25 per cent, while CardinalStone Asset Management Limited owns 4.012 billion shares, equivalent to 10.93 per cent. Equities rally extends to fifth session, market gains N316bn Creditville acquires N1.7m Chams HoldCo shares International Breweries to pay investors N84bn capital return Jotani Investment Limited holds 2.437 billion shares, representing a 6.64 per cent stake in the bank. The five shareholders collectively hold about 26.77 billion shares, giving them a combined stake of more than 72 per cent based on the percentages disclosed by the bank. The private placement marks a significant change in Abbey Bank’s shareholder structure as the lender continues to strengthen its capital base. Abbey Bank is headquartered in Lagos and is led by Samuel Oni as chairman and Mobolaji Adewumi as managing director and chief executive officer. Odinaka Anudu
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