Our recapitalisation exercise achieved 160% subscription – Zenith Bank
Zenith Bank PLC yesterday hailed the electronic trading platform – X-stream of the Nigerian Exchange which it said played a pivotal role in the success of its recapitalization exercise, which achieved a 160% subscription. This was disclosed yesterday by the bank’s Group Managing Director/CEO, Dame Adaora Umeoji when she accompanied the Bank’s Founder and Chairman, […]
Zenith Bank PLC yesterday hailed the electronic trading platform – X-stream of the Nigerian Exchange which it said played a pivotal role in the success of its recapitalization exercise, which achieved a 160% subscription.
This was disclosed yesterday by the bank’s Group Managing Director/CEO, Dame Adaora Umeoji when she accompanied the Bank’s Founder and Chairman, Dr. Jim Ovia, to carry out the prestigious closing gong ceremony at the Nigerian Exchange (NGX).
Daily Trust reports that Zenith is one of the first deposit money banks to achieve the new recapitalisation threshold of the Central Bank of Nigeria (CBN).
The ceremony yesterday according to the bank marked a significant milestone in the bank’s continued partnership with the capital market and the official closing of the trading day.
It also highlights Zenith Bank’s strong relationship with the NGX and its commitment to transparency, accountability, and bolstering investor confidence.
While speaking at the Nigerian Exchange, Umeoji expressed her delight in participating in the closing gong ceremony, acknowledging the NGX’s visionary leadership and innovative initiatives. “We are delighted to be here today to perform the closing gong ceremony – a symbol of shared progress and enduring partnership,” Dr. Umeoji said.
She added, “The NGX’s leadership has been very creative and innovative, and their electronic trading platform – X-stream played a pivotal role in the success of our recapitalization exercise, which achieved a 160% subscription.
“The bank’s stock price has doubled since the recapitalization exercise, from N36.50 per share to N68.
“Zenith Bank has also reported impressive financial results for the Half Year (H1) of 2025, becoming the most profitable bank in Nigeria and paying the highest dividend in the industry for the half year.”
The GMD reiterated the bank’s commitment to create value for its stakeholders, adding it will continue to partner with the NGX to boost the Nigerian economy.
“Our expansion strategy is focused on following our customers’ businesses and ensuring that we go to countries and economies where we can scale and provide more returns for our shareholders.”
She stressed that the bank plans to make good on its promise of being investors’ delight by paying quantum dividends to its shareholders by year end.
“For us in Zenith, we are looking forward to paying more based on the confidence the market reposed on us. We are working assiduously to ensure that we do not disappoint the Market. We are going to continue to be the investors’ delight, and we assure the market that we will continue to pay enhanced dividends come the end of the year.”
Also commenting, the Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama emphasised the role of the NGX in creating value in the Nigerian economic space.
He said, “I want to thank you all for making the market what it is. Without you, the market wouldn’t have seen the leap that it has achieved in the last one-and-half year. I spoke earlier that at my assumption of office, market capitalization stood at N55 trillion, today it is hovering around 89 trillion and 93 trillion. That was not done by a spirit, it was done by you. Your ability, tenacity, courage, vision and transparency have moved the market where it is. Our vision is that by next year, we will have the market at 200trn.”
The Doyen of the NGX, Alhaji Rasheed Yusuf lauded the Founder & Chairman, Zenith Bank Plc, Jim Ovia, CFR for his vision and leadership. He ended by referring to him as the “Doyen of the Commercial banking sector”.