By InvestAdvocate

Lagos (INVESTADVOCATE)-Top tier Nigerian lender, Stanbic IBTC Holdings said on Wednesday its planning to raise N24 billion ($121 million) via rights issue once shareholders approve the deal,  a Reuters report quoted the lender.

According to the report, stanbic IBTC Holdings said it would seek approval at its Annual General Meeting (AGM) scheduled for June 3.

Shares of the bank increased by 0.50 percent to N29.90 from N29.75 traded the previous session on the Nigerian bourse gaining 0.15 kobo per share.