Block Trade Deal: Fidelity Bank Trades 1.1bn Shares

Fidelity Bank Plc has recorded a block trade of 1.1 billion shares, valued at N23.036 billion.
In an off-market transaction executed on July 18, 2025, a total of 1.141 billion units of Fidelity Bank shares were crossed in nine negotiated deals.

According to Nairametrics, the seller in the deal was the Asset Management Corporation of Nigeria (AMCON), while the buyer is a prominent oil and gas security business owner based in the Niger Delta region.

The trade was facilitated by Apel Asset Management Limited and CardinalStone Securities Limited, both of whom acted as intermediaries in the cross-deal.

According to Fidelity Bank’s unaudited Q1 2025 results, the bank posted a pre-tax profit of N107.77 billion, representing a 167.8 per cent year-on-year growth. Gross earnings also surged by 64.2 per cent to N315.42 billion, highlighting robust top-line momentum.

The bank recently concluded a combined capital raise programme, becoming the first bank to respond to the CBN’s new recapitalization directive. The managing director of Fidelity Bank, Nneka Onyeali-Ikpe said that the initial target of N127.1 billion was not only met but surpassed.

She stated, “with the conclusion of the combined offer, I am delighted to announce that we have met and surpassed the capital-raise target we set for ourselves in the first phase of our capital-raise exercise. It is both gratifying and humbling to note this level of investor confidence in the bank.”

The bank launched a combined offer of 10 billion shares at N9.75 via public offer and 3.2 billion shares at N9.25 via rights issue.

Fidelity Bank plans to raise the balance ahead of the 2026 deadline, which will make it a tier one bank.