By Peace Udugba -The daily torch media
Sterling Financial Holdings Company Plc (Sterling HoldCo) has commenced the allotment of shares following the successful completion of its 2025 Public Offer, which closed 109.79 per cent oversubscribed.
The Group announced that it is allotting 12,581,000,000 ordinary shares of 50 kobo each at ₦7.00 per share, after receiving final approval from the Central Bank of Nigeria (CBN) and clearance from the Securities and Exchange Commission (SEC).
The Public Offer, which opened on September 15, 2025, recorded strong investor participation. A total of 18,280 applications were received for 16,839,524,401 ordinary shares valued at approximately ₦117.88 billion. After a verification process, 18,276 valid applications were confirmed for 13,812,239,000 ordinary shares.
According to the company, all valid applications will be allotted in full, in line with the offer prospectus. A small number of applications were either rejected or partially processed due to non-compliance with the offer terms, including duplicate payments and failure to meet the minimum subscription requirement of 1,000 units or its multiples.
The capital raise forms part of Sterling HoldCo’s broader strategy to strengthen its balance sheet, expand credit responsibly, accelerate innovation, and deepen support for businesses and households across Nigeria.
In addition to recapitalising its banking subsidiaries, the Group disclosed plans to inject ₦10 billion into SterlingFI Wealth Management Limited, its asset management arm, in compliance with the SEC’s revised minimum capital requirements for Capital Market Operators issued in January 2026. The fresh capital is expected to support the subsidiary’s full operations and advance the Group’s revenue diversification drive.
Refunds for excess or rejected applications, including applicable interest, will be processed by Pace Registrars Limited through Real Time Gross Settlement or NIBSS Electronic Funds Transfer and paid directly into applicants’ bank accounts not later than February 17, 2026.
Successful applicants will have their shares electronically credited to their accounts with the Central Securities Clearing System (CSCS) by the same date. Investors without CSCS accounts will have their shares temporarily held in a registrar-managed pool account pending completion of the required documentation.
Sterling HoldCo noted that a significant proportion of subscribers were first-time investors in a financial services company, reflecting growing retail investor confidence in the Group’s long-term strategy.
The allotment follows a period of strong financial performance. In its FY25 interim results, the Group reported a 99 per cent increase in profit before tax, building on the 102 per cent growth recorded in 2024. Gross earnings rose by 46 per cent to ₦476.5 billion, while total assets expanded to ₦3.92 trillion. Customer deposits increased by 18 per cent to ₦2.98 trillion, and shareholders’ funds grew by 39 per cent to ₦424.0 billion.
The cost-to-income ratio improved to 63 per cent from 72 per cent in the previous year, highlighting improved operational efficiency and scalability.
Sterling HoldCo operates through a diversified structure that includes Sterling Bank Limited, The Alternative Bank Limited, and SterlingFI Wealth Management, enabling it to serve a broad customer base and generate income across multiple revenue streams.
The Group confirmed that its core banking subsidiaries are fully compliant with the CBN’s revised minimum capital requirements, having secured final regulatory approvals in January 2026. The Alternative Bank has expanded its national footprint to over 150 locations and continues to deploy capital into impact-driven initiatives, including women-focused mobility and agricultural development programmes.
With a strengthened capital base and diversified earnings structure, Sterling HoldCo said it is well positioned to sustain growth, deepen financial inclusion, and support long-term economic development.
Sterling Financial Holdings Company Plc is a leading Nigerian financial services group providing strategic direction and governance across its subsidiaries, with a focus on innovation, inclusion, and sustainable value creation.
