• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, August 26, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Fidelity Bank Set To Raise N127.1bn Via Rights Issue, Public Offer

by Olushola Bello
1 year ago
in News
Fidelity Bank
Share on WhatsAppShare on FacebookShare on XTelegram

Fidelity Bank Plc has concluded all necessary arrangements to raise a total of N127.100 billion by way of a rights issue to existing shareholders and a public offer.

Advertisement

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. Overall, the Bank expects that the capital raised would support the Bank’s efforts to drive sustained growth and diversification of its earnings base.

The signing ceremony with respect to the combined offer was held yesterday in Lagos.

The Bank’s shareholders had already approved the rights issue and public offer at the Extra-Ordinary General Meeting held on August 11, 2023.

Under the rights issue, 3.200 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 January 5, 2024, at N9.25 per share.

RELATED

Coup Calls Blamed On Criminals Losing Ground To Military

We Must Invest In Cyber Defence, Artificial Intelligence, Indigenous Military Technology – CDS

4 hours ago
JUST-IN-: Protesters Set Palace, LG Secretariat Ablaze In Benue

Security Summit Seeks End To Killings In Benue

4 hours ago
ADVERTISEMENT

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. The acceptance and application lists for the rights issue and public offer are expected to open on June 20, 2024 and close on July 29, 2024.

At the Signing Ceremony, managing director and chief executive officer, Fidelity Bank, Dr. Nneka Onyeali-Ikpe, disclosed that the proceeds of the combined offer will be applied towards investment in IT infrastructure, business and regional expansion, and investment in product distribution channels.

The chief executive of Stanbic IBTC Capital, the lead issuing house to the combined offer, Oladele Sotubo, commended Fidelity Bank’s management team for their commitment towards executing the Combined Offer.

ADVERTISEMENT

He lauded their efforts for being at the forefront of achieving the CBN’s revised minimum capital requirements for Nigerian commercial banks. While thanking the Bank for trusting Stanbic IBTC Capital to lead and advise on this landmark transaction, Sotubo expressed confidence that the deal would encourage other corporates to tap into the equity capital markets to raise funding to meet their strategic business needs.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: Fidelity Bank
SendShare10172Tweet6358Share
ADVERTISEMENT
Previous Post

Automotive Council Partners Vendors To Manufacture 15,000 Auto Parts

Next Post

NNPC Engineering Posts 137% Increase In Operating Profit

Olushola Bello

Olushola Bello

You May Like

Coup Calls Blamed On Criminals Losing Ground To Military
News

We Must Invest In Cyber Defence, Artificial Intelligence, Indigenous Military Technology – CDS

2025/08/26
JUST-IN-: Protesters Set Palace, LG Secretariat Ablaze In Benue
News

Security Summit Seeks End To Killings In Benue

2025/08/26
Cassava Key To Doubling Gombe’s Agricultural Yield — Gov Inuwa
News

Gombe Gov Signs Bill Creating 13 LCDA

2025/08/26
PremiumTrust Bank Reassures Stakeholders Of Strong Performance, Profitability
Business

PremiumTrust Bank Meets N200bn Capital Requirement For National Commercial Banks; Reinforcing Its Leadership As Nigeria’s Fastest-Growing Bank

2025/08/26
Flood Alert: Environmentalist Urges Proactive Actions
News

FG Issues Fresh Flood Alert To 9 Northern States

2025/08/26
Ag COAS Investigates Video Of Major General, Orderly Brutalising Motorist
News

We’ll Do More To Secure Katsina – COAS

2025/08/26
Leadership Conference advertisement

LATEST

We Must Invest In Cyber Defence, Artificial Intelligence, Indigenous Military Technology – CDS

Security Summit Seeks End To Killings In Benue

Gombe Gov Signs Bill Creating 13 LCDA

PremiumTrust Bank Meets N200bn Capital Requirement For National Commercial Banks; Reinforcing Its Leadership As Nigeria’s Fastest-Growing Bank

FG Issues Fresh Flood Alert To 9 Northern States

We’ll Do More To Secure Katsina – COAS

Parties Accept Mediation In Abia Land Dispute

PDP’s Zoning Of Presidential Ticket To South Sparks Comments

Oil Theft Nearly 100% Eliminated, Says NNPCL GCEO

FG Signs BASA Agreement For Direct Flights To Brazil

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.