Sterling Financial Consolidates 10 Shares Into One as NGX Trading Pauses
Sterling Financial Holdings has begun a share reconstruction that will convert every 10 existing ordinary shares into one new share. Trading in the company’s shares on the Nigerian Exchange was suspended from 23 September to 7 October 2026 to allow shareholder records to be updated. The exercise will reduce the company’s issued shares from 68.5 billion to 6.85 billion. Each new share will retain a nominal value of 50 kobo. The adjustment does not change the total value of shareholders’ holdings at the point of conversion, as the reference price will be adjusted upward by the same proportion. Shareholders do not need to apply or make any payment for the conversion. Fractional shares will be aggregated and sold, with the net proceeds distributed to affected investors. Holders of physical certificates or incomplete CSCS records should contact the registrar and a licensed stockbroker for assistance. Sterling said the reconstruction follows first-half profit after tax of ₦50.3 billion, while total assets rose to ₦4.67 trillion. The company said the new structure is intended to improve share-price efficiency and make per-share performance easier for investors to assess.
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