Abbey Mortgage Bank Plc has announced a major change to its shareholding structure following the successful completion of its private placement exercise.
Abbey Mortgage Bank Plc has announced five new significant shareholders following the successful completion of its latest private placement exercise.
The regulatory disclosure, filed with the Nigerian Exchange (NGX) and signed by Company Secretary Geoff Amaghereobhor, details how the bank issued 26.56 billion new ordinary shares at 50 kobo each, priced at ₦2.43 per share.
The strategic share issuance attracted significant institutional and private investment, expanding the bank’s total shareholding structure and strengthening its financial foundation.
The private placement brought in a diverse group of high-profile corporate entities and strategic individual investors who acquired sizeable equity blocks in the mortgage institution.
Herel Limited secured the largest allocation in the transaction, acquiring 11.11 billion ordinary shares to command a 29.8% equity stake in the bank.
Abdulganiyu Adeola acquired 5.61 billion shares, translating to a 15.05% ownership share, while Integrated Corporate Services Limited (ICSL) picked up 4.11 billion ordinary shares to establish an 11.04% stake.
Additionally, Capitalfield Investment Group Limited secured 2.88 billion shares to hold a 7.72% equity position, and Dukiya Investment Limited took up 2.85 billion ordinary shares capturing a 7.64% stake in the institution.
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The successful share placement aligns with Abbey Mortgage Bank’s ongoing capital expansion strategy aimed at fortifying its balance sheet and maintaining robust regulatory ratios.
Bank executives emphasized that bringing on new institutional and high-net-worth investors will accelerate the bank’s growth plan. The capital injection will directly fund digital banking transformation initiatives, expand access to mortgage products and enhance real estate development funding to meet rising housing demand across Nigeria.
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