Fidelity Bank Plc has revealed crucial details of its combined public and rights offers during the “Facts Behind the Offers” presentation at the Nigerian Exchange. The event, led by Managing Director/Chief Executive Officer Nneka C. Onyeali-Ikpe, showcased the bank’s strategy to enhance its capital base and drive future growth.
The combined offers consist of a public offer of 10,000,000,000 ordinary shares at 9.75 kobo each and a rights issue of 3,200,000,000 ordinary shares at 9.25 kobo each. The proceeds from the rights issue, valued at ₦29.6 billion, and the public offer, totaling ₦97.5 billion, will significantly bolster the bank’s financial standing.
According to Onyeali-Ikpe, the funds raised will be utilized to strengthen the bank’s capital base, enabling Fidelity Bank to achieve its strategic goals. These include substantial investments in IT infrastructure, expansion of product distribution channels, and overall enhancement of the bank’s operational capabilities.
The presentation provided a transparent and detailed financial outlook, illustrating how the combined offers are poised to deliver robust returns to investors. Fidelity Bank reiterated its commitment to sustainable growth and innovation within the banking sector.
ABOUT FIDELITY BANK
Fidelity Bank, also known as Fidelity Bank Plc., is a commercial bank in Nigeria headquartered in Victoria Island, Lagos. It is licensed as a commercial bank with international authorization, by the Central Bank of Nigeria, the central bank and national banking regulator