Sterling HoldCo Opens Public Offer for Nigerians To Buy Its Shares, Releases Financial Result

• Sterling HoldCo has launched a public offer of 12.58 billion ordinary shares at N7 each, valued at about N88 billion.
• The financial company's plan has been approved by its shareholders in its last Annual General Meeting (AGM)
• Sterling HoldCo has also released its financial results for the first six months and reported a 157% year-on-year profit growth

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Sterling Financial Holdings Company Plc (Sterling HoldCo) the parent company of Sterling Bank has opened a public offer.

The bank said in a statement that it is offering 12.581 billion ordinary shares of 50 kobo each at N7 per share, amounting to about N88 billion.

The offer for subscription opened from Wednesday, September 17, 2025, and is scheduled to close on Tuesday, September 30, 2025.

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Why Sterling HoldCo opened pubic offer?

According to the company, the offer is part of a strategic plan to strengthen the capital adequacy of Sterling Bank Limited, recapitalise SterlingFi Wealth Management, and fund the group’s expansion opportunities.

At its 2nd Annual General Meeting (AGM) held on July 11, 2025, Sterling HoldCo shareholders approved the board’s plan to raise up to $400 million (or its equivalent in naira or other currencies) through a Shelf Programme.

The capital is expected to be raised in tranches over a specified period via debt instruments (such as bonds, commercial papers, sukuks, medium or short-term notes, and debentures), preference shares, ordinary shares, global depositary receipts, or a combination of these.

The fundraising could also take the form of public offers, private placements, rights issues, or other methods at terms and prices determined by the board of directors, BusinessDay reports.

Sterling bank performance

Sterling HoldCo has also released its financial result for for the half year ended June 30, 2025 and recorded a strong performance.

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The company said the strong performance reflects improved operational efficiency, revenue diversification, and a stronger capital base.

Here is a snapshot of the results.

• Profit after tax (PAT) surged by 157% year-on-year, reaching N41.78 billion compared to N16.26 billion in the same period of 2024.
• Earnings per share rose to 89 kobo, up from 56 kobo.
• Gross earnings grew by 39.7% to N212.61 billion from N152.20 billion in H1 2024.
• Interest income climbed 38.3% to N167.16 billion, while non-interest income increased by 45% to N45.45 billion.

Sterling Bank removes transfer charges

Earlier, Legit.ng reported that Sterling Bank has announced that it will no longer charge transfer fees for local online transactions.

The bank is also encouraging other Nigerian banks to adopt the same policy.

Many people initially thought it was an April Fool’s joke, but the bank later confirmed in an official statement that the zero-transfer-fee policy is real and takes effect immediately.

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With this decision, Sterling Bank becomes the first major Nigerian bank to eliminate these charges on digital transactions.

Source: Legit.ng