Fidelity Bank undertakes N29.6bn Rights Issue, N97.5bn Public Offer

Fidelity Bank Plc has concluded all necessary arrangements to raise a total of up to N127,100,000,000 by way of a Rights Issue to existing shareholders and a Public Offer . The Combined Offer is a part of the Bank’s strategy to increase its share capital base in compliance with the revised minimum capital requirements for Nigerian commercial banks introduced by the Central Bank of Nigeria on March 28, 2024.

The Acceptance and Application lists for the Rights Issue and Public Offer are expected to open on Thursday, 20 June 2024 and close on Monday, 29 July 2024. At the signing ceremony, Managing Director and CEO of Fidelity Bank, Dr. Nneka Onyeali-Ikpe, disclosed that the proceeds of the Combined Offer will be applied towards investment in IT infrastructure, business and regional expansion, and investment in product distribution channels.

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