Wema Bank's Rights Issue Raises Dilution Concerns Amid Regulatory Pressure
The Business NG
|The BusinessNG
Wema Bank Plc's ongoing Rights Issue of 14.29 billion shares at N10.45 each has sparked concerns among some shareholders and market watchers about potential equity dilution and urgency in meeting regulatory capital thresholds.
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The offer, which closes on May 21, 2025, allows shareholders to buy two new shares for every three held as of March 5. If fully subscribed, the bank expects to raise over N149 billion, a move it says will support its digital transformation and strengthen its capital base.
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