Fidelity Bank has informed its shareholders that it’s set to raise more capital, up to N90 billion, to play bigger in local and international markets.
The creditor’s decision to raise more funds will see new investors acquire stakes in Fidelity Bank through Public Offer, a statement obtained on Wednesday showed.
Also, it was disclosed that existing shareholders will be able to increase their current investments in Fidelity Bank through the Rights Issue.
About 10 billion shares have been allocated for the Public Offer and 3.2 billion shares have been earmarked for the Rights Issue, bringing the total shares to 13.2 billion, worth around N99 billion based on the closing share price on Tuesday.
Although, the Public Offer and Rights Issue don’t often carry the exact share price. The shares could be sold at a discounted price because they are bought directly from the company and not the secondary market.
The board of directors at Fidelity Bank said during the company’s Extra-Ordinary General Meeting, on Friday, August 11, 2023, if thought fit, shareholders will pass the following as Ordinary Resolutions:
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