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Wema Bank's N149bn Rights Issue Triggers Dilution Fears, CBN Pressure Looms

The Business NG

The BusinessNG

Wema Bank Plc’s ongoing N149.4 billion Rights Issue has drawn scrutiny from investors and analysts, raising concerns over potential dilution of shareholder value and the urgency driving the capital raise ahead of regulatory deadlines.

The offer, which opened recently and closes on May 21, 2025, seeks to issue 14.29 billion new shares at N10.45 each. Existing shareholders are entitled to two new shares for every three held as of March 5. If fully subscribed, the bank expects the proceeds to enhance its digital infrastructure and boost its capital adequacy in line with the Central Bank of Nigeria's (CBN) recapitalisation directive.

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