Eterna Plc said it has commenced a N21.52 billion rights issue following approval from the Securities and Exchange Commission (SEC), as the energy company seeks to fund expansion and strengthen its balance sheet.
In a notice to the Nigerian Exchange Limited (NGX), the company said the offer comprises 978.11 million ordinary shares of 50 kobo each priced at N22 per share, to be issued to existing shareholders based on three new shares for every four ordinary shares held as at November 27, 2025.
The company noted that the rights issue opened on Monday, January 12, 2026, and will close on Wednesday, February 18, 2026, with the rights tradable on the floor of the NGX throughout the acceptance period.