Wema Bank Plc said it has successfully concluded the first tranche of its recapitalisation exercise having secured all relevant
regulatory approvals for the allotment of its N40 billion rights issue, which was initiated in December 2023.
Ahead of the directive, Wema Bank, in December 2023, launched a N40 billion rights issue, which has been approved by the CBN and the Securities and Exchange Commission . “We are delighted to announce the conclusion of the first tranche of our Capital Raise Programme, after obtaining the relevant approvals of all regulatory authorities. Our move to commence our capital raise programme very early demonstrates our push for excellence and with a strong emphasis on our digital play; we are set to amass more successes in the coming months.
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