Capital market

Lagos, June 24, 2024 – In a bid to position himself in First Bank, Femi Otedola, the Chairman of the bank, has increased his shareholding in the bank by additional 2.22 percent.   This was achieved by his recent purchase of 797,948,415 additional shares in the bank at an average price of N21.58 totalling N17.2 billion. This was disclosed in a corporate filing on the Nigerian Exchange Group on Monday. Otedola has consequently increased his stake in the bank to 11.64%, making him the single largest shareholder in the bank. This …

Lagos, June 24, 2024 – Fidelity Bank Plc started its N127.1 billion combined rights and public offers to a rousing support from the investing public as key capital market stakeholders recalled the symbolic importance of Fidelity Banks impressive growths and investor-friendly disposition over the years. From the Nigerian Exchange (NGX) to stockbrokers, investors and customers, the N127.1 billion combined rights and public offer received unreserved recommendations, with industry thought leaders citing the performance of Fidelity Bank in its core banking operations and as a quoted company at the stock market. …

By Iheanyi Nwachukwu Lagos, June 19, 2024 – Nigeria’s sixth largest bank, Fidelity Bank Plc, will open its public offer and rights issue on Thursday, 20, 2024. The bank is raising a total of up to N127.100 billion by way of a rights Issue to existing shareholders and a public offer (combined offer). Under the rights issue, 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 of Jan. 5, 2024 at N9.25 per …

Abuja, June 10, 2024 – The Central Bank of Nigeria (CBN) has denied reports that it is planning to revoke operating licences of Fidelity, Polaris, Wema and Unity Banks. The apex bank made the clarification in a statement on Monday. It said the clarification became necessary in view of fake reports about the instability of some banks following the revocation of licence of Heritage Bank Plc. Hakama Sidi Ali, the acting Director of Corporate Communications Department of the CBN, reassured the public of the safety of their deposits and the …

Cairo, June 10, 2024 – African Export-Import Bank (Afreximbank) has disbursed US$40-million Intra-African Investment Facility to Fidelity Bank Nigeria Plc (“Fidelity”) to support Fidelity Bank’s acquisition and recapitalization of Union Bank UK as part of its international expansion programme. The bank provided the facilityin two tranches of US$20 million each   The first tranche of the facility enabled Fidelity to part-refinance the acquisition of 100 per cent equity stake in Union Bank UK, while the second tranche was used to support its recapitalisation via the injection of additional equity into …