Five investors have acquired a combined 72.35 percent stake in Abbey Bank Plc after the lender completed a N64.55 billion private placement that introduced more than 26.5 billion new shares into its capital structure.
Abbey Bank disclosed the new ownership structure in a regulatory filing to the Nigerian Exchange Limited (NGX) dated September 17, 2026.
The bank completed the private placement of 26,562,647,265 ordinary shares of 50 kobo each at N2.43 per share, translating to approximately N64.55 billion.
Following the transaction, Abdulganiyu Olajide Adeola emerged as the largest disclosed shareholder with 6,995,884,774 shares, representing a 19.05 percent stake in the bank.
Herei Limited holds 6,784,362,140 shares, equivalent to 18.48 percent, while Archetype Energy Services Limited controls 6,333,476,332 shares, representing 17.25 percent.
Cardinalstone Asset Management Limited emerged with 4,011,757,786 shares, giving it a 10.93 percent stake, while Jotani Investment Limited holds 2,437,166,233 shares, representing 6.64 percent.
Together, the five investors account for 72.35 percent of Abbey Bank’s shareholding based on the percentages disclosed by the lender.
The completion of the private placement significantly reshapes Abbey Bank’s ownership structure and strengthens its equity position following the issuance of more than 26.5 billion new ordinary shares.
The transaction comes amid broader capital-raising activities across Nigeria’s banking industry as financial institutions strengthen their capital positions and pursue expansion strategies.
Abbey Bank said the disclosure was made to the NGX, its shareholders and the investing public following completion of the private placement.
