In a corporate notice signed by Company Secretary, Adeyoola Temple, Sterling revealed that the funds would be raised incrementally through a variety of channels including rights issues, private placements, and public offerings, both in local and international markets.
The company intends to establish a Shelf Programme that would allow it to issue a broad range of financial instruments such as bonds (convertible and non-convertible), commercial papers, Sukuks, preference shares, ordinary shares, and global depositary receipts.
These instruments could be offered via different methods—including book building—over a defined period.
According to the resolution proposed for shareholder approval, the capital raise will be executed in multiple tranches at varying prices, interest rates, and maturity timelines, with the Board of Directors given full authority to determine the modalities.
