LAGOS/Nigeria: Sterling Financial Holdings Company Plc has commenced the allotment process for its 2025 Public Offer of 12.58 billion ordinary shares priced at ₦7.00 each, following final regulatory approvals from the Central Bank of Nigeria and clearance by the Securities and Exchange Commission.
The company disclosed in Lagos that the exercise marks another phase in its multi-year capital-raising programme aimed at strengthening its balance sheet and accelerating expansion across business segments. The offer, which opened September 15, 2025, drew strong investor interest, receiving 18,280 applications for 16.84 billion shares valued at about ₦117.88 billion.
After verification, valid applications from 18,276 investors amounted to 13.81 billion shares, representing a subscription rate of 109.79 percent. The group said all valid applications would be allotted in full, noting that only a small number were rejected or adjusted due to non-compliance with offer requirements such as duplicate payments or failure to meet the minimum subscription threshold.
Sterling HoldCo stated that the capital raise forms part of a broader strategy to expand lending capacity responsibly, deepen innovation and enhance support for households and businesses nationwide. As part of this plan, the group will inject ₦10 billion into SterlingFI Wealth Management Limited to meet revised minimum capital requirements for capital market operators introduced in January 2026 and to enable the subsidiary commence full operations.
The firm assured investors that refunds for excess or rejected applications, including applicable interest, would be processed through electronic transfers by Pace Registrars Limited no later than February 17, 2026. Successful applicants will have their shares credited electronically to accounts with the Central Securities Clearing System the same day, while shares for those without CSCS accounts will be temporarily warehoused pending completion of account documentation.
Data from the subscription process showed strong participation from first-time investors in financial services equities, a development the group said reflects growing retail confidence in its strategy and long-term outlook.
The allotment follows a period of robust financial performance. In its FY25 interim results, the group reported a 99 percent rise in profit before tax, building on 102 percent growth recorded in 2024. Gross earnings climbed 46 percent to ₦476.5 billion, total assets rose to ₦3.92 trillion, deposits increased 18 percent to ₦2.98 trillion, and shareholders’ funds expanded 39 percent to ₦424 billion. Its cost-to-income ratio improved to 63 percent from 72 percent, signalling improved efficiency and scalability.
Sterling HoldCo’s diversified structure spans conventional banking through Sterling Bank Limited, non-interest services via The Alternative Bank Limited, and investment advisory operations under SterlingFI Wealth Management. The company said this multi-segment model reduces concentration risk while strengthening revenue streams.
According to the group, recapitalisation of its core banking subsidiaries has already been completed, with both banks fully compliant with revised regulatory capital thresholds as of January 2026. It added that the non-interest arm has expanded to more than 150 service points nationwide and is deploying funds to impact-focused initiatives, including skills training programmes for women and agricultural projects designed to enhance economic sustainability.
Sterling HoldCo welcomed new shareholders and thanked investors for their participation, saying its strengthened capital base and diversified earnings profile position it to sustain growth, deepen financial inclusion and deliver long-term value to stakeholders.
