Nigeria’s FCMB Group Plc wants to lift its share capital ceiling from N340 billion to N370 billion. This step will back a N160 billion sale of new shares to firm up the company’s funds.
The firm will seek a thumbs-up from owners at a special meeting on 8 December 2025. The extra cash could come from selling regular shares, special shares, loan notes that can turn into shares, straight loans, bonds, or other tools. These might go out in home or foreign markets through open sales, private deals, rights to buy for current holders, or similar paths.
Owners will also vote to take on extra buys beyond the set amount in the 2025 open sale. This could add more shares, up to what regulators allow, as long as watchdogs give the nod.
Right now, the company’s paid-up shares stand at N30 billion, split into over 60 billion units at 50 kobo each. The plan calls for making new units that match the old ones in rights. Bosses will get the go-ahead to pass rules for the lift, hand out shares to buyers, and tweak the company’s founding papers to fit the changes.
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