Eterna Plc N21.52bn Rights Issue

Eterna Plc has officially opened its N21.52 billion Rights Issue, offering 978,108,485 ordinary shares at N22.00 per share to existing shareholders. The offer, which runs from January 12 to February 18, 2026, aims to strengthen Eterna Plc's balance sheet and fund strategic expansion initiatives. These initiatives include expanding its retail network, upgrading its lubricant blending plant, enhancing LPG retail assets, acquiring commercial delivery assets, expanding aviation fuelling operations, and investing in ESG-related projects. A portion of the funds will also serve as a working capital buffer to enhance liquidity and resilience against market volatility and foreign exchange fluctuations in Nigeria. The capital raise follows Eterna Plc's resilient financial performance in 2025, with a revenue of N212.8 billion and a profit before tax of N1.39 billion over the nine-month period. Gabriel Ogbechie, Chairman of the Board, emphasized that this is a significant step in Eterna Plc's long-term growth strategy. Planet Capital Limited is acting as the Lead Issuing House for the Rights Issue.