This week, Zenith Bank Plc announced that it had received full regulatory approval from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) for its recently concluded hybrid offer. The offer comprised a Rights Issue of 5,232,748,964 ordinary shares at N36.00 per share and a Public Offer of 2,767,251,036 ordinary shares at N36.50 per share. The Public Offer recorded an impressive 160.47% subscription rate, with 4,440,587,250 shares allotted following the offer terms and the CBN’s capital verification exercise. The Rights Issue was fully subscribed at 100.18%, with all 5,232,748,964 shares allotted. 🔗Read more: https://proshare.co/articles/banks-recapitalization-watch-for-the-week-ended-january-31-2024?menu=Market&classification=Read&category=Public%20%26%20Private%20Offers 📷 Proshare Graphics