On the Path to Becoming Global Lender – THISDAYLIVE

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Kayode Tokede writes that with its ongoing N127 billion capital raising exercise, Fidelity Bank Plc is eying new opportunities and is on the path to  better performance as a global lender

The management of Fidelity Bank Plc since 2023 got shareholders’ approval to raise additional capital before the Central Bank of Nigeria (CBN) official announcement in March 2024.
The bank on June 20, 2024 commenced its Public Offer of 10,000,000,000 ordinary shares of 50 kobo each at N9.75 per share and Rights Issue of 3,200,000,000 ordinary shares of 50 kobo each at N9.25 per share.

This will translate into N127.10 billion fresh capital once the offer comes to an end July 29, 2024.
The additional capital will bring Fidelity Bank’s outstanding capital to 45.2 billion, ahead of Zenith Bank and Guaranty Trust Holdings Company Plc that currently have 31.39billion and 29.43billion outstanding shares on the Nigerian Exchange Limited (NGX), respectively.
The capital is…



Source: Thisday Newspaper