Fidelity Bank Plc has through its Stockbrokers, APT Securities & Funds Limited, submitted an application to Nigerian Exchange Limited for the approval and listing of a Rights Issue of 3.2 billion ordinary shares of 50 kobo each at N10 per share.
This was contained in the NGX’s weekly report seen by CN.
According to the report, the right issue is based on one (1) new ordinary share for every ten (10) existing ordinary shares held as of the close of business on Friday, 5 January 2024.
The Qualification Date for the Rights Issue is 5 January 2024.
The statement reads:
CN recently reported that Fidelity Bank Plc has passed a resolution to increase its share capital from N16 billion to N22.6 billion, paving the way for its planned public offer to begin.
Fidelity Bank Plc disclosed plans to inflate its share capital from N16 billion to N22.6 billion, according to recent resolutions from its Extra-Ordinary General Meeting which was held virtually on August 11, 2023.
These are the excerpts from the EGM
Recall that Nairametrics first announced that the bank plans to raise capital via a combination of a public offer and a rights issue.
Fidelity Bank says it is to raise its share capital to N22.60 billion as the company looks to explore strategic growth.
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