Wema Bank to commence N40bn rights issue in August

Wema Bank Plc has concluded arrangement to commence its N40 billion rights issue to the existing shareholders of the bank in August.

Following the completion of the Bank’s share reconstruction exercise, the Board of Directors of the Bank has been authorised to raise capital of N40 billion by way of a rights issue to the existing shareholders of the Bank by issuing two new shares for every three shares held in the reconstructed capital of the Bank.

Source: Wema Bank to commence N40bn rights issue in August – StocksWatch (stocksng.com)

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