Sterling Plc Sheds 10% as Investors Dump Shares Post-earnings

Samuel Mobolaji

Sterling Financial Holdings Plc lost over 10 per cent of its market value last week as investors offloaded shares on the Nigerian Exchange (NGX) following the release of its half-year results.

The stock slipped to N7.50 per share, down from N8.35 at the start of the week, as more than 20.65 million units valued at N156.36 million exchanged hands. The decline shaved the company’s market capitalisation to N390.88 billion, representing a 16.4 per cent discount to its 52-week peak.

Despite the selloff, Sterling Plc posted a robust earnings performance for the first half of 2025. Earnings per share surged by 59 per cent to 89 kobo, while profit after tax jumped 156.9 per cent to N41.78 billion from N16.26 billion in the same period of 2024, supported by a 39.7 per cent rise in gross earnings to N212.61 billion.

Market records show that foreign investors hold 25.93 per cent of Sterling Plc’s outstanding shares, while CardinalStone Asset Management Limited remains the largest single shareholder with 31.98 per cent.

Other significant investors include Silverlake Investments Limited (20.61 per cent), Ess-ay Investments Limited (5.13 per cent), State Bank of India (4.89 per cent), and businessman Mike Adenuga (3.51 per cent).

The company maintains a free float of 23.14 per cent in line with NGX listing requirements.