• Tue. Jul 16th, 2024

Fidelity Bank Plc’s recent launch of a N127.1 billion combined rights and public offer has been met with robust support from the investing public. Key stakeholders from the Nigerian Exchange (NGX), stockbrokers, investors, and customers have highlighted the bank’s impressive growth and investor-friendly policies as key reasons for their enthusiastic reception.

The offer includes a rights issue of 3.2 billion ordinary shares at N9.25 per share and a public offer of 10 billion ordinary shares at N9.75 per share. The subscription period runs from June 20, 2024, to July 29, 2024.

Prominent market figures have endorsed the offer, citing Fidelity Bank’s track record of growth, profitability, and strong corporate governance. Alhaji Rasheed Yussuff, a seasoned stockbroker, praised the bank’s consistent dividend payments and performance as a listed company, while ASHON Chairman Sam Onukwue lauded its resilience and growth since its inception in 1987.

NGX Chairman Ahonsi Unuigbe emphasized the significance of the offer in strengthening the bank’s capital base and supporting sustainable growth in the financial sector. Acting CEO of NGX, Jude Chiemeka, commended Fidelity Bank’s commitment to transparency and investor engagement.

Dr. Nneka Onyeali-Ikpe, Managing Director of Fidelity Bank, highlighted the strategic importance of the capital raise, aiming to expand the bank’s operations and enhance technological infrastructure. She emphasized the bank’s goal to become a market leader and support the Nigerian economy through this recapitalization effort.

The offer has been positioned as a crucial step in the ongoing banking recapitalization initiative, ensuring Nigerian banks remain solvent and capable of driving economic growth. With its strong historical performance and substantial returns, Fidelity Bank is poised to attract significant investor interest and continue its trajectory of success.

Hyacinth Beluchukwu Nwafor

Hyacinth Beluchukwu Nwafor is a seasoned journalist and the CEO/Founder Belch Digital Communications, publishers of Hybrid News Nigeria.

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