Eterna Plc has secured regulatory approval to proceed with a Rights Issue of 978,108,485 ordinary shares of 50 kobo each at an offer price of ₦22.00 per share as part of its capital-raising programme to support long-term growth and strategic expansion.
In a notice to shareholders and the market, the company confirmed that the Securities and Exchange Commission has approved the offer, which is being made to existing shareholders on the basis of three new ordinary shares for every four ordinary shares held as at November 27, 2025.
The Rights Issue opened on Monday, January 12, 2026, and will close on Wednesday, February 18, 2026.
The rights are tradable on the floor of the Nigerian Exchange Limited throughout the acceptance period. Shareholders will receive the Rights Circular through the registrars to the offer, Greenwich Registrars and Data Solutions Limited, with the document also available on the company’s website.
Eterna Plc stated that shareholders may participate electronically via the NGX Invest platform or through the completion of paper participation forms.
Completed forms, alongside payment or evidence of payment for the full subscription amount, must be submitted to the issuing houses or receiving agents listed in the Rights Circular no later than the closing date.
According to the company, proceeds from the Rights Issue will be deployed across several strategic initiatives, including the expansion of its retail network, upgrades to its lubricant blending plant, enhancement of LPG retail assets, acquisition of commercial delivery assets, expansion of aviation fueling operations, and investments in ESG-related projects aligned with its sustainability objectives.
The Rights Issue is designed to provide existing shareholders with the opportunity to increase their equity holdings in the company and reinforce their participation in Eterna’s long-term growth strategy.
Eterna Plc advised shareholders to consult their stockbrokers or financial advisers for further information regarding the offer.
