NGX: Fidelity Lobby For 3.2 Billion Odinary Shares Listings

Fidelity Bank Plc has applied to Nigerian Exchange Limited for permission and listing of a rights issue of 3.2 billion ordinary shares of 50 kobo each at N10 per share through its stockbrokers, APT Securities & Funds Limited.

THE MATRIX saw the NGX’s weekly report, which included this information.

The report states that as of Friday, January 5, 2024, at the close of business, there will be one (1) new ordinary share for every ten (10) existing ordinary shares held.

January 5, 2024, is the Qualification Date for the Rights Issue.

The statement reads: “Trading License Holders are hereby notified that Fidelity Bank Plc (Fidelity or the Bank) has through its Stockbrokers, APT Securities & Funds Limited, submitted an application to Nigerian Exchange Limited for the approval and listing of a Rights Issue of Three Billion, Two Hundred Million (3,200,000,000) ordinary shares of 50 kobo each at N10 per share based on one (1) new ordinary share for every ten (10) existing ordinary shares held as at the close of business on Friday, 5 January 2024. The Qualification Date for the Rights Issue is 5 January 2024”.

Nairametrics recently reported that Fidelity Bank Plc has passed a resolution to increase its share capital from N16 billion to N22.6 billion, paving the way for its planned public offer to begin.

Fidelity Bank Plc disclosed plans to inflate its share capital from N16 billion to N22.6 billion, according to recent resolutions from its Extra-Ordinary General Meeting which was held virtually on August 11, 2023.