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| L-R: Mr. Imokha Ayebae, Finance Director, Fidson Healthcare Plc; Ms. Onyebuchim Obiyemi, Director Investment Banking, CardinalStone; Dr. Fidelis Ayebae, Chairman, Fidson Healthcare Plc; Biola Adebayo, MD/CEO, Fidson Healthcare Plc; Michael Nzewi, the CEO of CardinalStone Partners Limited at the Signing Ceremony of Fidson Right Issue, on Friday, in Lagos. |
Fidson Healthcare Plc, Nigeria’s leading pharmaceutical manufacturer has signed and unveiled its highly anticipated ‘Rights Issue,’ upon receipt of the final regulatory approval of the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX).
The signing ceremony was held on Friday at the Company’s Head Office in Lagos to initiate the formal, according to a statement signed by Temitope Akindele, Corporate Services Manager, Fidson Healthcare Plc.“This strategic capital raise aims to generate a gross sum of up to N21 Billion, an injection vital to consolidating Fidson’s leadership in the industry, providing funds for increased production capacity and its aggressive pan-African expansion goals,” the statement noted.
The statement also reads, “The ‘Rights Issue,’ involves the offering of 600 Million New Ordinary Shares of 50 kobo each, priced at N35.00 per share.
“The shares are offered to existing shareholders based on one new Ordinary Share for every four Ordinary Shares held as of the close of business on Wednesday, November 12, 2025, which is the Qualification Date.
“This ‘Rights Issue,’ building on a history of strategic capital raising initiatives, comes at a time when the company has demonstrated exceptional performance. It underscores the strong operational execution and robust market position Fidson commands within the Nigerian and West African pharmaceutical landscape.
“The nine-month results for the period ended September 30, 2025, solidify this strength, revealing a significant 132 percent year-on-year surge in Profit After Tax (PAT) to reach N7.97 billion. This outstanding bottom-line growth was underpinned by a 56 percent increase in Revenue, which reached N93.08 billion, reflecting robust demand and expanded market reach.
"Furthermore, effective cost management saw Operating Profit rise by an impressive 92 percent to N16.95 billion, demonstrating significant operational leverage and efficiency gains.
The N21 billion capital infusion is specifically targeted at increasing manufacturing capacity, driving product innovation and expanding market penetration across new territories."
Speaking at the signing ceremony, the Managing Director/CEO of Fidson Healthcare Plc, Mr. Biola Adebayo stated, "The successful formalisation of this N21 billion Rights Issue marks a critical milestone for Fidson. This capital will cement our position as the foremost healthcare company in Nigeria and a dominant player 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 added.
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| LR: Mr. Ola Ijimakin, Commercial Director, Fidson Healthcare Plc; Mr. Imokha Ayebae, Finance Director, Fidson Healthcare Plc; Ms. Onyebuchim Obiyemi, Director Investment Banking, CardinalStone; Dr. Fidelis Ayebae, Chairman, Fidson Healthcare Plc; Biola Adebayo, MD/CEO, Fidson Healthcare Plc; Michael Nzewi, the CEO of CardinalStone Partners Limited; Mr. Olugbenga Olayeye, Strategy Director, Fidson Healthcare Plc. at the Signing Ceremony of Fidson Right Issue, on Friday, in Lagos. |
In his remarks, Mr. Imokha Ayebae, Finance Director, highlighted the company’s impressive milestones in the capital market and explained the financial necessity and structure of the Issue. “This Rights Issue has been meticulously structured to be financially compelling and viable for our loyal investors. The proceeds will be deployed judiciously to optimise our operations, including technology upgrades and expansion of our product lines. Eligible shareholders are strongly encouraged to exercise their provisional rights during the period,” Ayebae added.
On his part, Michael Nzewi, the CEO of CardinalStone Partners Limited, Lead Issuing house for the Rights Issue spoke about the equity capital raising journey of the company. Nzewi indicated that the company’s last offering in 2019 was at ₦4.50 compared to the current offer price of ₦35, which is at a discount to the prevailing market price. This serves as a testament to the growth trajectory of the company’s stock and the attractiveness of holding Fidson shares in an investment portfolio, he noted.
"This serves as a testament to the growth trajectory of the company’s stock and the attractiveness of holding Fidson shares in an investment portfolio, he noted.
The statement said, “Shareholders on the register as of the Qualification Date must complete the Official Participation Form and submit it with full payment to their Stockbroker or any Receiving Agent listed in the Rights Circular before the closing date.
