Eterna Plc has launched a ₦21.52 billion Rights Issue, signalling a new chapter in growth.
Specifically, the company is offering 978,108,485 ordinary shares at ₦22.00 each to existing shareholders.
Eterna Plc Rights Issue Launches Growth Chapter
Consequently, shareholders can subscribe for three new shares for every four they currently hold.
The subscription opened on January 12, 2026, and it will close on February 18, 2026.
Moreover, all new shares rank equally with existing ones, ensuring fairness and transparency for investors.
Strategic Expansion And Investment
Eterna designed the Rights Issue to strengthen its balance sheet and fund strategic expansion plans.
Accordingly, the company will expand its retail fuel network, upgrade the lubricant blending plant, and enhance LPG infrastructure nationwide.
In addition, it plans to acquire commercial delivery assets and broaden aviation fuelling operations.
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Furthermore, the company will invest in ESG-focused projects, reflecting its commitment to sustainability and innovation.
Eterna will also create a working capital buffer for inventory and short-term trade payables.
This measure will improve resilience against market volatility and foreign exchange fluctuations.
Strong Performance And Future Opportunities
The Rights Issue follows shareholder approval at the AGM on July 24, 2025, and regulatory clearance.
Meanwhile, Eterna recorded nine-month revenue of ₦212.8 billion and a profit before tax of ₦1.39 billion.
The company attributes this success to disciplined cost management and diversified operations.
In his remarks, Chairman Dr Gabriel Ogbechie called the Rights Issue pivotal for long-term shareholder value.
Planet Capital Limited will guide the company as Lead Issuing House throughout the capital raise.
Eterna continues to focus on operational excellence, sustainable energy solutions, and long-term competitiveness.
Consequently, the Rights Issue positions the company to seize future growth opportunities across its entire value chain.
