The Managing Director of Fidelity Bank, Nneka Onyeali-Ikpe has notified the investing public of the successful completion of its public offer and rights issue and that the bank surpassed the capital-raise target it set for the first phase of the capital-raise exercise
In an email sent to individual shareholders, the MD of Fidelity Bank stated thus:
“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 proceeds from pour Combined Offer will be deployed to achieving our growth strategy. The funds will be deployed to fund our local and international expansion plan, IT Infrastructure development and capital provision for key sectors of the economy.
My profound gratitude goes to our customers, new investors and existing shareholders for supporting us in this journey. We will forever be grateful for the support we received during this capital-raise exercise”.
The Combined Offer was launched for intending investors to purchase 10 billion ordinary shares of 50 kobo each via Public Offer and 3.2 billion ordinary shares of 50 kobo each via Rights Issue.