Fidelity Bank Plc Unveils Combined Public and Rights Offers Totaling ₦127.1 Billion at the Exchange in Lagos

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L-R: shows Chief Executive Officer, NGX Regulation Limited (NGX RegCo), Mr. Olufemi Shobanjo; Ag. Chief Executive Officer, Nigerian Exchange Limited (NGX), Mr. Jude Chiemeka; Chairman, NGX, Mr. Ahonsi Unuigbe; Managing Director/CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe; Executive Director, Fidelity Bank Plc, Mr. Stanley Amuchie; Chief Financial Officer, Fidelity Bank Plc, Mr. Victor Abejegah during the Facts Behind the combined  offer presentation of Fidelity Bank Plc on Thursday, 20 June 2024 at the Exchange in Lagos

 

Fidelity Bank Plc today revealed crucial details of its combined public and rights offers during the “Facts Behind the Offers” presentation at the Nigerian Exchange. The event, led by Managing Director Nneka C. Onyeali-Ikpe, showcased the bank’s strategy to enhance its capital base and drive future growth.

The combined offers consist of a public offer of 10,000,000,000 ordinary shares at 9.75 kobo each and a rights issue of 3,200,000,000 ordinary shares at 9.25 kobo each. The proceeds from the rights issue, valued at ₦29.6 billion, and the public offer, totaling ₦97.5 billion, will significantly bolster the bank’s financial standing.

Managing Director Onyeali-Ikpe emphasized that the funds raised will be utilized to strengthen the bank’s capital base, enabling Fidelity Bank to achieve its strategic goals. These include substantial investments in IT infrastructure, expansion of product distribution channels, and overall enhancement of the bank’s operational capabilities.

The presentation provided a transparent and detailed financial outlook, illustrating how the combined offers are poised to deliver robust returns to investors. Fidelity Bank reiterated its commitment to sustainable growth and innovation within the banking sector.

Attendees at the Exchange in Lagos were given comprehensive insights into the bank’s future plans, reflecting Fidelity Bank Plc’s dedication to maintaining its leadership position and ensuring long-term value creation for its stakeholders.


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