Fidelity Bank Plc has introduced a rise in its issued share capital with the addition of 20,000,000,000 peculiar shares at N0.50 every, elevating its whole share capital to N36.7 billion.
This decision was authorised throughout the firm’s Extraordinary Basic Assembly held on February 6, 2025, and was subsequently detailed in a disclosure printed on the NGX the identical day, signed by the corporate secretary, Ezinwa Unuigboje.
The issued capital rose from N26.7 billion, divided into 53,400,000,000 peculiar shares of N0.50, to N36.7 billion by means of the creation of those further 20,000,000,000 peculiar shares of N0.50 every.
Based on the disclosure, the newly issued share capital will rank pari passu with the present peculiar shares licensed by the Board of Administrators.
The disclosure additional acknowledged:
“That the Board be and is hereby licensed to boost further capital as much as the brand new issued Share Capital of the Firm by the use of Non-public Placements, Rights Points, Public Presents, or another mode or mixture of modes, in such tranches, collection, quantities, pricing or proportions and on such phrases and situations and at such instances as could also be decided by the Board, topic to acquiring the requisite regulatory approvals.”
Moreover, the Board resolved that as much as 20,000,000,000 peculiar shares shall be issued by means of a number of non-public placements, restricted to 30% of the Firm’s current shares, to a number of buyers as decided by the Board. They are going to oversee the specifics, together with timing, pricing, and phrases for buyers.
Fidelity Bank Plc recorded a year-to-date efficiency of 60.55% in 2024.
This bullish development has continued into 2025, with the inventory additionally closing in January 2025 at N19.45 and a market quantity of 292 million shares.
