Also today, the bank held a Facts Behind the Offer presentation at the Nigeria Exchange (NGX).

Fidelity Bank is offering a rights issue of 3.2 billion ordinary shares of 50 kobo each in the ratio of 1 new ordinary share for every 10 ordinary shares held as of 05 January 2024, at N9.25 per share.

The bank is also offering 10 billion ordinary shares of 50 kobo each to the general investing public at N9.75 per share.

The combined offer is part of the bank’s strategy to increase its share capital base in compliance with the revised minimum capital requirements for Nigerian commercial banks introduced by the CBN on March 28, 2024.

Stanbic IBTC Capital is the Lead Issuing House to the Combined Offer, whilst the Joint Issuing Houses include Iron Global Markets Limited, Cowry Asset Management Limited, Afrinvest Capital Limited, FSL Securities Limited, Futureview Financial Services Limited, Iroko Capital Market Advisory Limited, Kairos Capital Limited and Planet Capital Limited.