Sterling Financial Holdings Company Plc has announced the commencement of the allotment process for its 2025 Public Offer of 12,581,000,000 ordinary shares of 50 kobo each at N7.00 per share, while indicating that the offer was oversubscribed.
In a statement made available to The NGGOSSIPS on Wednesday, the allotment process followed the receipt of final approval from the Central Bank of Nigeria and the recent clearance by the Securities and Exchange Commission.
The Public Offer, which opened on 15 September 2025, attracted strong participation from the investing public, with the Company receiving 18,280 applications for 16,839,524,401 ordinary shares valued at approximately N117.88bn.
Following a verification process, valid applications were received from 18,276 shareholders for a total of 13,812,239,000 ordinary shares, which represents a subscription level of 109.79 per cent.
In line with the guidelines set out in the offer prospectus, Sterling Financial Holding Company confirmed that all valid applications will be allotted in full.
“Every investor who complied with the terms of the offer will receive all the shares for which they applied. A very small number of applications were not processed or were partially rejected 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, as stipulated in the offer documents,” stated the Holdco.
The group added that it would ensure a seamless post-offer process, with refunds for excess or rejected applications, along with applicable interest, to be remitted via Real Time Gross Settlement or NIBSS Electronic Funds Transfer directly to the bank accounts detailed in the application forms. Simultaneously, the electronic allotment of shares will be credited to successful shareholders’ accounts with the Central Securities Clearing System. For applicants who do not currently have CSCS accounts, their allotted shares will be temporarily held in a registrar-managed pool account pending the submission of their completed account opening documentation to Pace Registrars Limited, after which the shares will be transferred to their personal CSCS accounts.
The public offer forms part of a broader capital-raising programme with the group stating that in addition to strengthening the capital buffers of its banking subsidiaries, Sterling Bank and The Alternative Bank, it will inject N10bn into SterlingFI Wealth Management Limited, its asset management subsidiary, in line with the revised minimum capital requirements for Capital Market Operators issued by the SEC in January 2026. The capital injection will support the commencement of full operations and contribute to the Group’s revenue diversification objectives.
The group added that the recapitalisation of its core banking subsidiaries is already complete: “Sterling Bank Limited and The Alternative Bank Limited are fully compliant with the CBN’s revised minimum capital requirements, having received final regulatory approvals in January 2026.” The Alternative Bank, in particular, has emerged as a national non-interest bank with a physical network now surpassing 150 points, deploying capital to solve real-world challenges through initiatives such as the Mata Zalla project, which trains women as electric tricycle drivers and mechanics, and an agricultural programme in Plateau State designed to secure economic futures.
“These outcomes demonstrate that the capital raised is already being put to work in ways that create tangible impact.”
Sterling HoldCo revealed that its public offer attracted significant participation from a new generation of investors, with data from the application process showing that a substantial proportion of successful applicants were first-time shareholders in a financial services company. This broadening of the ownership base reflects growing retail investor belief in Sterling HoldCo’s vision and strengthens the Group’s connection to the communities it serves.
Meanwhile, in its FY25 interim results, Sterling HoldCo reported a 99 per cent increase in profit before tax, building on the 102 per cent growth achieved in 2024. Gross earnings rose 46 per cent to N476.5bn, driven by growth across both interest and non-interest income streams, while total assets expanded to N3.92tn. Customer deposits grew 18 per cent to N2.98tn, and shareholders’ funds increased 39 per cent to N424.0bn, reflecting sustained profitability and balance-sheet expansion.
This performance is supported by a diversified financial services structure that spans multiple segments of the market. Its core businesses include Sterling Bank Limited, its conventional banking subsidiary; The Alternative Bank Limited, its non-interest banking arm; and SterlingFI Wealth Management, which provides investment and wealth advisory services.
Sterling Financial Holdings Company Plc has announced the commencement of the allotment process for its 2025 Public Offer of 12,581,000,000 ordinary shares of 50 kobo each at N7.00 per share, while indicating that the offer was oversubscribed.
In a statement made available to The NGGOSSIPS on Wednesday, the allotment process followed the receipt of final approval from the Central Bank of Nigeria and the recent clearance by the Securities and Exchange Commission.
The Public Offer, which opened on 15 September 2025, attracted strong participation from the investing public, with the Company receiving 18,280 applications for 16,839,524,401 ordinary shares valued at approximately N117.88bn.
Following a verification process, valid applications were received from 18,276 shareholders for a total of 13,812,239,000 ordinary shares, which represents a subscription level of 109.79 per cent.
In line with the guidelines set out in the offer prospectus, Sterling Financial Holding Company confirmed that all valid applications will be allotted in full.
“Every investor who complied with the terms of the offer will receive all the shares for which they applied. A very small number of applications were not processed or were partially rejected 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, as stipulated in the offer documents,” stated the Holdco.
The group added that it would ensure a seamless post-offer process, with refunds for excess or rejected applications, along with applicable interest, to be remitted via Real Time Gross Settlement or NIBSS Electronic Funds Transfer directly to the bank accounts detailed in the application forms. Simultaneously, the electronic allotment of shares will be credited to successful shareholders’ accounts with the Central Securities Clearing System. For applicants who do not currently have CSCS accounts, their allotted shares will be temporarily held in a registrar-managed pool account pending the submission of their completed account opening documentation to Pace Registrars Limited, after which the shares will be transferred to their personal CSCS accounts.
The public offer forms part of a broader capital-raising programme with the group stating that in addition to strengthening the capital buffers of its banking subsidiaries, Sterling Bank and The Alternative Bank, it will inject N10bn into SterlingFI Wealth Management Limited, its asset management subsidiary, in line with the revised minimum capital requirements for Capital Market Operators issued by the SEC in January 2026. The capital injection will support the commencement of full operations and contribute to the Group’s revenue diversification objectives.
The group added that the recapitalisation of its core banking subsidiaries is already complete: “Sterling Bank Limited and The Alternative Bank Limited are fully compliant with the CBN’s revised minimum capital requirements, having received final regulatory approvals in January 2026.” The Alternative Bank, in particular, has emerged as a national non-interest bank with a physical network now surpassing 150 points, deploying capital to solve real-world challenges through initiatives such as the Mata Zalla project, which trains women as electric tricycle drivers and mechanics, and an agricultural programme in Plateau State designed to secure economic futures.
“These outcomes demonstrate that the capital raised is already being put to work in ways that create tangible impact.”
Sterling HoldCo revealed that its public offer attracted significant participation from a new generation of investors, with data from the application process showing that a substantial proportion of successful applicants were first-time shareholders in a financial services company. This broadening of the ownership base reflects growing retail investor belief in Sterling HoldCo’s vision and strengthens the Group’s connection to the communities it serves.
Meanwhile, in its FY25 interim results, Sterling HoldCo reported a 99 per cent increase in profit before tax, building on the 102 per cent growth achieved in 2024. Gross earnings rose 46 per cent to N476.5bn, driven by growth across both interest and non-interest income streams, while total assets expanded to N3.92tn. Customer deposits grew 18 per cent to N2.98tn, and shareholders’ funds increased 39 per cent to N424.0bn, reflecting sustained profitability and balance-sheet expansion.
This performance is supported by a diversified financial services structure that spans multiple segments of the market. Its core businesses include Sterling Bank Limited, its conventional banking subsidiary; The Alternative Bank Limited, its non-interest banking arm; and SterlingFI Wealth Management, which provides investment and wealth advisory services.
Sterling Financial Holdings Company Plc has announced the commencement of the allotment process for its 2025 Public Offer of 12,581,000,000 ordinary shares of 50 kobo each at N7.00 per share, while indicating that the offer was oversubscribed.
In a statement made available to The NGGOSSIPS on Wednesday, the allotment process followed the receipt of final approval from the Central Bank of Nigeria and the recent clearance by the Securities and Exchange Commission.
The Public Offer, which opened on 15 September 2025, attracted strong participation from the investing public, with the Company receiving 18,280 applications for 16,839,524,401 ordinary shares valued at approximately N117.88bn.
Following a verification process, valid applications were received from 18,276 shareholders for a total of 13,812,239,000 ordinary shares, which represents a subscription level of 109.79 per cent.
In line with the guidelines set out in the offer prospectus, Sterling Financial Holding Company confirmed that all valid applications will be allotted in full.
“Every investor who complied with the terms of the offer will receive all the shares for which they applied. A very small number of applications were not processed or were partially rejected 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, as stipulated in the offer documents,” stated the Holdco.
The group added that it would ensure a seamless post-offer process, with refunds for excess or rejected applications, along with applicable interest, to be remitted via Real Time Gross Settlement or NIBSS Electronic Funds Transfer directly to the bank accounts detailed in the application forms. Simultaneously, the electronic allotment of shares will be credited to successful shareholders’ accounts with the Central Securities Clearing System. For applicants who do not currently have CSCS accounts, their allotted shares will be temporarily held in a registrar-managed pool account pending the submission of their completed account opening documentation to Pace Registrars Limited, after which the shares will be transferred to their personal CSCS accounts.
The public offer forms part of a broader capital-raising programme with the group stating that in addition to strengthening the capital buffers of its banking subsidiaries, Sterling Bank and The Alternative Bank, it will inject N10bn into SterlingFI Wealth Management Limited, its asset management subsidiary, in line with the revised minimum capital requirements for Capital Market Operators issued by the SEC in January 2026. The capital injection will support the commencement of full operations and contribute to the Group’s revenue diversification objectives.
The group added that the recapitalisation of its core banking subsidiaries is already complete: “Sterling Bank Limited and The Alternative Bank Limited are fully compliant with the CBN’s revised minimum capital requirements, having received final regulatory approvals in January 2026.” The Alternative Bank, in particular, has emerged as a national non-interest bank with a physical network now surpassing 150 points, deploying capital to solve real-world challenges through initiatives such as the Mata Zalla project, which trains women as electric tricycle drivers and mechanics, and an agricultural programme in Plateau State designed to secure economic futures.
“These outcomes demonstrate that the capital raised is already being put to work in ways that create tangible impact.”
Sterling HoldCo revealed that its public offer attracted significant participation from a new generation of investors, with data from the application process showing that a substantial proportion of successful applicants were first-time shareholders in a financial services company. This broadening of the ownership base reflects growing retail investor belief in Sterling HoldCo’s vision and strengthens the Group’s connection to the communities it serves.
Meanwhile, in its FY25 interim results, Sterling HoldCo reported a 99 per cent increase in profit before tax, building on the 102 per cent growth achieved in 2024. Gross earnings rose 46 per cent to N476.5bn, driven by growth across both interest and non-interest income streams, while total assets expanded to N3.92tn. Customer deposits grew 18 per cent to N2.98tn, and shareholders’ funds increased 39 per cent to N424.0bn, reflecting sustained profitability and balance-sheet expansion.
This performance is supported by a diversified financial services structure that spans multiple segments of the market. Its core businesses include Sterling Bank Limited, its conventional banking subsidiary; The Alternative Bank Limited, its non-interest banking arm; and SterlingFI Wealth Management, which provides investment and wealth advisory services.
Sterling Financial Holdings Company Plc has announced the commencement of the allotment process for its 2025 Public Offer of 12,581,000,000 ordinary shares of 50 kobo each at N7.00 per share, while indicating that the offer was oversubscribed.
In a statement made available to The NGGOSSIPS on Wednesday, the allotment process followed the receipt of final approval from the Central Bank of Nigeria and the recent clearance by the Securities and Exchange Commission.
The Public Offer, which opened on 15 September 2025, attracted strong participation from the investing public, with the Company receiving 18,280 applications for 16,839,524,401 ordinary shares valued at approximately N117.88bn.
Following a verification process, valid applications were received from 18,276 shareholders for a total of 13,812,239,000 ordinary shares, which represents a subscription level of 109.79 per cent.
In line with the guidelines set out in the offer prospectus, Sterling Financial Holding Company confirmed that all valid applications will be allotted in full.
“Every investor who complied with the terms of the offer will receive all the shares for which they applied. A very small number of applications were not processed or were partially rejected 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, as stipulated in the offer documents,” stated the Holdco.
The group added that it would ensure a seamless post-offer process, with refunds for excess or rejected applications, along with applicable interest, to be remitted via Real Time Gross Settlement or NIBSS Electronic Funds Transfer directly to the bank accounts detailed in the application forms. Simultaneously, the electronic allotment of shares will be credited to successful shareholders’ accounts with the Central Securities Clearing System. For applicants who do not currently have CSCS accounts, their allotted shares will be temporarily held in a registrar-managed pool account pending the submission of their completed account opening documentation to Pace Registrars Limited, after which the shares will be transferred to their personal CSCS accounts.
The public offer forms part of a broader capital-raising programme with the group stating that in addition to strengthening the capital buffers of its banking subsidiaries, Sterling Bank and The Alternative Bank, it will inject N10bn into SterlingFI Wealth Management Limited, its asset management subsidiary, in line with the revised minimum capital requirements for Capital Market Operators issued by the SEC in January 2026. The capital injection will support the commencement of full operations and contribute to the Group’s revenue diversification objectives.
The group added that the recapitalisation of its core banking subsidiaries is already complete: “Sterling Bank Limited and The Alternative Bank Limited are fully compliant with the CBN’s revised minimum capital requirements, having received final regulatory approvals in January 2026.” The Alternative Bank, in particular, has emerged as a national non-interest bank with a physical network now surpassing 150 points, deploying capital to solve real-world challenges through initiatives such as the Mata Zalla project, which trains women as electric tricycle drivers and mechanics, and an agricultural programme in Plateau State designed to secure economic futures.
“These outcomes demonstrate that the capital raised is already being put to work in ways that create tangible impact.”
Sterling HoldCo revealed that its public offer attracted significant participation from a new generation of investors, with data from the application process showing that a substantial proportion of successful applicants were first-time shareholders in a financial services company. This broadening of the ownership base reflects growing retail investor belief in Sterling HoldCo’s vision and strengthens the Group’s connection to the communities it serves.
Meanwhile, in its FY25 interim results, Sterling HoldCo reported a 99 per cent increase in profit before tax, building on the 102 per cent growth achieved in 2024. Gross earnings rose 46 per cent to N476.5bn, driven by growth across both interest and non-interest income streams, while total assets expanded to N3.92tn. Customer deposits grew 18 per cent to N2.98tn, and shareholders’ funds increased 39 per cent to N424.0bn, reflecting sustained profitability and balance-sheet expansion.
This performance is supported by a diversified financial services structure that spans multiple segments of the market. Its core businesses include Sterling Bank Limited, its conventional banking subsidiary; The Alternative Bank Limited, its non-interest banking arm; and SterlingFI Wealth Management, which provides investment and wealth advisory services.
