Fidelity Bank announces private placement of over 3billion shares

Fidelity Bank Plc  has completed and announced the result of the Private Placement of 3,037,414,308 ordinary shares of 50 kobo each at N4.60 per share.

According to a corporate action document published on the Nigerian Exchange completely done, the private placement was opened on Wednesday, February 22, 2023 and closed on Thursday, February 23, 2023.

However, the Company said that two (2) applications were received for a total of 3,037,414,308 ordinary shares in connection with the Private Placement.

Fidelity Bank noted that the two (2) applications for a total of 3,037,414,308 ordinary shares in connection with the Private Placement.

Fidelity Bank noted that the two (2) applications for a total of 3,037,414,308 ordinary shares were found to be valid, accepted and processed accordingly. It however, did not disclose the identity of the applicants.

“The Private Placement was therefore 100 per cent subscribed,” it added.

“All applications were received within the Offer period of Wednesday, February 22, 2023 and Thursday, February 23, 2023.

“The Securities & Exchange Commission (‘SEC’ or ‘Commission’) has cleared the Basis of Allotment stated above as well as this announcement. CSCS accounts of successful allotees will be credited with shares allotted, not later than Friday, May 05, 2023 by the Registrars to Fidelity Bank Plc, First Registrars Investor Services Limited, No 2, Abebe Village Road, Iganmu, Lagos, Nigeria.”

At the close of trading on Friday, the share price of Fidelity Bank rose from 1.6 per cent to close at N5.09. YTD it has risen 14.91 per cent.

Fidelity Bank has 28,974,797,023 outstanding shares and a market capitalisation of 147,481,716,847.07 as at close of trading on Friday.