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By Doris Obinna
Fidson Healthcare yesterday in Lagos, launched its N21 billion Rights Issue following the receipt of final regulatory approvals from the Securities and Exchange Commission (SEC) and Nigerian Exchange Limited (NGX).
This involves the offer of 600 million new ordinary shares of 50 kobo each at N35.00 per share, to be issued to existing shareholders on the basis of one new ordinary share for every four ordinary shares held as at the close of business on Wednesday, November 12, 2025, the qualification date. The offer is expected to generate gross proceeds of up to N21 billion.
Proceeds from the issue, the company disclosed, will be deployed toward increasing manufacturing capacity, enhancing product innovation, upgrading technology and expanding Fidson’s market footprint in new territories within Africa.
The Managing Director, Mr. Biola Adebayo, said the new capital would reinforce Fidson’s position as Nigeria’s leading healthcare company and strengthen its presence across Africa: “The firm’s recent performance demonstrated its capacity to innovate and deliver long-term value to stakeholders.”
Its Finance Director, Mr. Imokha Ayebae, said the issue was carefully structured to offer value to existing shareholders, noting that the funds would be judiciously applied to optimise operations and expand product lines. He encouraged eligible shareholders to take advantage of the offer during the subscription period.
Chief Executive Officer, CardinalStone Partners, Mr. Michael Nzewi, noted that the company’s last equity offering in 2019 was priced at N4.50 per share: “The current offer price of N35, which represents a discount to the prevailing market price, underscored the company’s strong growth trajectory and the attractiveness of its shares to investors.”
