Zenith Bank shareholders give approval to raise N100bn fresh capital

Shareholders of Zenith International Bank Plc on Wednesday authorised the board and management and board to raise additional capital of N100bn.

The shareholders gave their mandate for the fresh capital at the bank’s 26th Annual General Meeting held in Lagos.

The shareholders also authorised that the additional capital of N100bn should be raised by way of a public offering, rights issue or any other method deemed fit by the board in local or international market or the combination of both.

They also authorised that the bank’s share capital be increased to N25bn comprising N20bn by the creation of additional 10 billion ordinary shares of 50k each.