Fidson Healthcare launches N21bn rights issue to boost production, Pan-African expansion

Fidson Healthcare Plc, one of Nigeria’s leading pharmaceutical manufacturers has launched its N21 billion Rights Issue, following final regulatory approvals from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX). 

The formalization took place at the company’s Lagos Head Office during a signing ceremony attended by executives and key stakeholders.

The Rights Issue involves the offering of 600 million new ordinary shares at N35 per share to existing shareholders, based on one new share for every four shares held as of the qualification date of November 12, 2025. 

The capital raise is designed to fund increased production capacity, drive product innovation, and support Fidson’s aggressive pan-African expansion plans.

Speaking at the ceremony, Managing Director/CEO Mr. Biola Adebayo described the Rights Issue as a “critical milestone” that will cement Fidson’s position as Nigeria’s foremost healthcare company while enhancing its presence across Africa. 

“Our exceptional performance this year has demonstrated our ability to thrive and innovate, and this successful offer assures us we can accelerate our growth trajectory and create sustainable, long-term value for all our stakeholders,” he said.

The company’s nine-month results for the period ending September 30, 2025, underline its robust financial performance, with a 132 per cent year-on-year surge in Profit After Tax (PAT) to N7.97 billion, driven by a 56 per cent increase in revenue to N93.08 billion. 

Operating profit also rose by 92 per cent to N16.95 billion, reflecting strong operational efficiency and market demand.

Finance Director Mr. Imokha Ayebae highlighted the financial rationale and structure of the Rights Issue, encouraging eligible shareholders to participate fully. 

“The proceeds will be deployed judiciously to optimize operations, including technology upgrades and expansion of our product lines,” he said.

CEO of CardinalStone Partners Limited, Michael Nzewi the lead issuing house, noted that Fidson’s last capital raising in 2019 was priced at N4.50 per share, compared to the current offer price of N35, underscoring the company’s impressive growth trajectory and attractiveness to investors.