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Frequently Asked Questions
Why is Zenith Bank launching a combined offer?
Zenith Bank’s combined offer means the bank will be raising funds through a Rights Issue and a Public Offer.
The bank is launching a combined offer to give both existing shareholders and new investors an opportunity to be part of Zenith Bank’s growth story.
Who can participate in the Rights Issue?
All existing shareholders as at the Qualification Date (see below) are eligible to participate in the Rights Issue.
What does a Qualification date mean and what is the Qualification Date for the Rights Issue?
Rights are offered to only those shareholders whose names exist on the register of shareholders of Zenith Bank on the Qualification Date.
The Qualification Date is the cut-off date for the issue of rights. If your name does not appear on the register of shareholders of Zenith Bank by this date, you will not be eligible to participate in the Rights Issue. In addition, as an existing shareholder, only shares purchased prior to or by the Qualification Date, will count towards your rights allocation.
The Qualification Date for the Zenith Bank Rights Issue is 24th July 2024.
Who can participate in the Public Offer?
The Public Offer is open to everyone.
What is the offer size and price?
Zenith Bank is offering 5,232,748,964 (Five Billion, Two Hundred and Thirty-two Million, Seven Hundred and Forty-eight Thousand, Nine Hundred and Sixty-four) ordinary shares of 50 kobo each at ₦36.00 per share to existing shareholders through a Rights Issue on the basis of 1 (One) new ordinary share for every 6 (Six) ordinary shares held.
Zenith Bank is also offering 2,767,251,036 (Two Billion, Seven Hundred and Sixty-seven Million, Two Hundred and Fifty-one Thousand, and Thirty-six) ordinary shares of 50 kobo each at ₦36.50 per share to the general public through a Public Offer.
As an existing shareholder, can I also participate in the Public Offer?
Yes, in addition to participating in the Rights Issue, you can also participate in the Public Offer.
How many shares will I be entitled to as an existing shareholder?
The Rights Circular containing your number of allotted shares will be sent to you by Meristem Registrars & Probate Services.
What is the minimum number of shares I can purchase via the Public Offer?
You can purchase a minimum of 250 units of shares and thereafter, in multiples of 250 units.
How long will the Combined Offer be open for?
The Combined Offer will be open on the 1st of August 2024 and will close on the 23rd of September 2024.
What benefit do I get from taking part in the Zenith Bank Offer?
Your investment in the Zenith bank Rights Issue and Public Offer:
- Increases your investment portfolio in Zenith Bank
- Makes you a co-owner of the most profitable bank in the banking sector
- Positions your investment for long term appreciation
- Ensures attractive returns on your investment
- Gives you the opportunity to share in Zenith Bank’s growth and success.
How can I subscribe or apply for the offer?
You can subscribe for the Combined Offer using any of the following channels:
• Visit any Zenith Bank branch nationwide to make payment and complete an application form. You may also visit any of the receiving banks, stockbrokers or registrar listed in the prospectus.
• You can subscribe to the Rights Issue and/or Public Offer through any of the e-channels listed below:
- Zenith Bank Internet Banking via https://www.zenithbank.com/internet-banking/
- Zenith Bank Mobile App. Download from your App store to your mobile device.
- NGX Platform via https://invest.ngxgroup.com/register
- Direct application on the Zenith Bank Website.
How can I get more details about the Combined Offer?
To get more details on the Combined Offer, please visit our website www.zenithbank.com to view the Offer documents.
In addition, you can contact our Investor Relations team on 0201-2787700, or send an email to investorrelations@zenithbank.com for further information on the offer.
Zenith Bank advises you to consult an independent financial adviser prior to making any investment decisions.
My Child is below 18, how do I apply for him/her?
Subscription for minors can only be done by submitting physical applications at any of our branches or with the stockbrokers. Kindly fill the minor’s details on the application form as the applicant, while the parent/guardian’s BVN and the minor’s CSCS, CHN and bank account (e.g. ZECA account for Zenith Bank customers) MUST be filled on the form.
Can I purchase shares as a corporate investor?
Yes, corporate investors can take part in the Rights Issue or Public Offer. However, you must have an existing stockbroking account in the corporate name. Also, at least two (2) directors must sign and provide their BVN for corporate subscriptions except where there’s a sole signatory corporate investor. Applications for corporates can be made online using the Corporate Internet Banking platform (for Zenith Bank corporate customers) or by submitting a physical form at any of our branches or with stockbrokers.
Can I participate in the Zenith Bank Offer as a foreign individual/institution or a non-resident Nigerian?
For full details on how investors in the diaspora can participate in the Combined Offer, kindly contact Quantum Zenith Securities on 0201-2783169 and 0201-2781220, or send an email to diasporaoffers@quantumzenith.com.ng
How can I obtain information about my existing shareholding in Zenith Bank?
Once the Combined Offer opens you should automatically receive an email from the registrar with details of your existing shareholding, your rights entitlement and your Registrar Account Number (RAN)
How can I get in touch with the Registrar if I do not receive my Rights Circular?
You can contact Meristem Registrars & Probate Services Ltd by calling 0201-2809-2503 or sending an email to zenithbankoffer@meristemregistrars.com
What unique identifier do I require for my application?
You require your Clearing House Number (CHN) or Registrar Account Number (RAN). Every existing shareholder has a Registrar Account Number (RAN), but not all existing shareholders have a Clearing House Number (CHN).
What if I am a first time investor?
As a first time investor, you can also subscribe to the Public Offer on any of the online platforms as well as at any of our branches. Not having a CHN does not stop you from participating in the offer. Kindly select a stockbroker of your choice at the point of application and a trading account will be created for you with the stockbroker.
Can I take part in the offer if I do not have a Clearing House Number (CHN)?
Yes. On any of the subscription channels for the Offer, simply provide the required information and select your preferred stockbroker, who will facilitate the account creation for you. Or, if you already have a stockbroker, kindly contact them for your CHN.
How can I find out my Registrar Account Number (RAN)?
Once the Offer opens, every existing shareholder will receive details of their allotments along with their RAN from the registrar. If you do not receive this email notification, kindly use the search engine at the top of this page to retrieve your RAN.
As an existing shareholder, can I buy more than the number of Rights allotted to me?
Yes, when accepting your allocated Rights, you can also apply for additional Rights. Kindly note that in the event of an oversubscription of the Rights Issue, additional Rights will be allotted on a pro-rata basis. Any payment made for Rights not allotted will be refunded.
What can I do if I do not want to take up my Rights?
As an existing shareholder you can trade any Rights you do not wish to take up. Kindly contact your stockbroker to guide you on the process. Rights not taken up or traded during the offer period will be deemed renounced.
How will I know if my application to participate in the Rights Issue or the Public Offer has been successful?
An allocation notification will be sent to your registered email address upon receipt of final regulatory approvals for the Rights Issue and Public Offer. Please note final regulatory approvals could take up to two months after the offer application period has ended
How can I contact a representative of the Bank?
You can contact the Investor Relations team on 0201-2787700, or send an email to investorrelations@zenithbank.com.
My child is already an existing shareholder, but is a minor, what do I need to do to take up his/her rights?
Subscription forms for Rights Issue for minors are to be filled with the details of the minor as the applicant on the application form, while the parent/guardian’s BVN and the minor’s CSCS, CHN and bank account (e.g. ZECA account for Zenith Bank customers) MUST be filled on the form. Kindly note that Public Offer subscription and taking up of Rights for minors can ONLY be done via physical applications at any of our branches or with the stockbrokers.
Contact Us
Email: zenithdirect@zenithbank.com
Phone number: 0201-278-7000, 0904-085-7000, 0700ZENITHBANK (0700-936-4842265).
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