Nigeria’s 6th largest bank, Fidelity Bank Plc has said it will open its public offer and rights issue.
The Bank said acceptance and application for the rights issue will be open on Thursday, June 20, 2024, as the NGX hold a Facts Behind the Offer presentation.
According to reports, 3.2 billion ordinary shares of 50 kobo each will be offered in the ratio of 1 new ordinary share for every 10 ordinary shares held as of 05 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 general 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 application lists will close on Monday July 29, 2024.
The bank recently concluded all necessary arrangements to raise a total of up to N127.100billion by way of a rights issue to existing shareholders and a public offer (the combined offer).
The combined offer is a 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.
