FIVE shareholders now control a combined 72.35 percent stake in Abbey Bank Plc following the completion of the lender’s private placement of 26.56 billion ordinary shares.
The bank disclosed this in a notice to the Nigerian Exchange Limited, shareholders and the investing public dated September 17, 2026.
The private placement involved 26,562,647,265 ordinary shares of 50 kobo each, issued at N2.43 per share.
Abdulganiyu Olajide Adeola emerged as the largest shareholder, with 6.996 billion shares, representing 19.05 per cent of the bank.
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Herei Limited holds 6.784 billion shares, equivalent to 18.48 percent, while Archetype Energy Services Limited owns 6.333 billion shares, representing 17.25 per cent.
CardinalStone Asset Management Limited holds 4.012 billion shares, giving it a 10.93 per cent stake, while Jotani Investment Limited owns 2.437 billion shares, representing 6.64 per cent.
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The five shareholders collectively hold 26.56 billion shares, making up the entire number of shares issued under the private placement and giving them a combined 72.35 percent based on the individual percentages disclosed by the bank.
The disclosure reveals the significant concentration of ownership arising from Abbey Bank’s latest capital-raising exercise.
