Fidelity Bank Plc is set to raise N127 billion from a public offer and rights issue to its existing shareholders to raise its capital base in line with the CBN capitalisation directive.
A statement from the bank on Wednesday indicated that the bank is eyeing N97.5bn fresh funds from its public offer and N29.6bn from its rights issue which offers existing shareholders one new ordinary share for every 10 ordinary shares held as of January 5 2024, at N9.25 per share.
For the Public Offer, 10,000,000,000 ordinary shares of 50 kobo each will be offered to the general investing public at N9.75 per share.
Stanbic IBTC Capital is the Lead Issuing House to the Combined Offer, whilst the Joint Issuing Houses include Iron Global Markets Limited, Cowry Asset Management Limited, Afrinvest Capital Limited, FSL Securities Limited, Futureview Financial Services Limited, Iroko Capital Market Advisory Limited, Kairos Capital Limited and Planet Capital Limited.