Lagos, June 16, 2024 – Nigeria’s sixth largest bank, Fidelity Bank Plc, will open its public offer and rights issue on Thursday, June 20, 2024.
As part of this capital raising process, Fidelity Bank will on same hold a Facts Behind the Offer presentation at the Nigerian Exchange (NGX).
According to an article posted on the Businessday website and authored by Iheanyi Nwachukwu, 3.2 billion ordinary shares of 50 kobo each will be offered in the ratio of one new ordinary share for every 10 ordinary shares held as at January 2024, at N9.25 per share under the Rights Issue,
For the public offer, 10 billion ordinary shares of 50 kobo each will be offered to the investing public at N9.75 per share.
Stanbic IBTC Capital is the Lead Issuing House to the combined offer, whilst the joint issuing houses include Iron Global Markets Limited, Cowry Asset Management Limited, Afrinvest Capital Limited, FSL Securities Limited, Futureview Financial Services Limited, Iroko Capital Market Advisory Limited, Kairos Capital Limited and Planet Capital Limited.
The acceptance and application lists for the rights issue and public offer which will open on Thursday, June 20 will close on Monday July 29, 2024.
The bank has concluded all necessary arrangements to raise a total of up to N127.100 billion by way of a rights issue to existing shareholders and a public offer (the combined offer).
The combined offer is part of the bank’s strategy to increase its share capital base in compliance with the revised minimum capital requirements for Nigerian commercial banks introduced by the Central Bank of Nigeria (CBN) on March 28, 2024. (GBN)
