Infinity Trust shareholders authorise capital raise of up to ₦50 billion
Shareholders authorised a capital raise ceiling of ₦50 billion, subject to regulatory approvals; funds raised were not reported.
- Publish date: 2026-10-21
- Category: Standards & Policy
- Original source: BusinessDay
- Reading time: 1 min read
At an extraordinary general meeting in Abuja on October 20, shareholders of Infinity Trust Mortgage Bank authorised directors to raise up to ₦50 billion through a rights issue, private placement, public offer or a combination, subject to regulatory approvals. The bank gave no completion timetable.
Shareholders also approved conversion of 600 million ₦1 preference shares, valued at ₦600 million, into ordinary shares. Directors still must determine the conversion ratio and price, and regulatory approval is required. Two proposed non-executive director appointments also await shareholder ratification and CBN approval.