Fidelity Bank Plc (NGX: FIDELITYBK) has listed 3.03 billion new ordinary shares of 50 kobo each on the trading floor of the Nigerian Exchange Limited.
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In a press release signed by Ezinwa Unuigboje, the company secretary, the Bank stated that the new shares listed on August 11, 2023, was from the concluded Fidelity Bank Plc’s private placement of 3,037,414,308 ordinary shares of 50 kobo each.
The new shares will take Fidelity Bank’s outstanding ordinary shares from 28,974,797,023 to 32,012,211,331.
In April, Investogist reported that Fidelity Bank Plc accepted two applications for a total of 3,037,414,308 ordinary shares in connection with the private placements at N4.60 per share.
The private placement had opened on Wednesday, February 22, 2023 and closed on Thursday, February 23, 2023.
The identity of the two applicants whose applications were accepted was not disclosed by the Bank.
Fidelity Bank’s share price has risen to a 52 week high of N9.82 and at the end of trading on Friday, it stood at N8.55.
A private placement is a sale of stock shares or bonds to pre-selected investors and institutions rather than publicly on the open market. It is an alternative to an initial public offering (IPO) for a company seeking to raise capital for expansion.
These financial statements are for Fidelity Bank Plc, a company incorporated in Nigeria on 19 November 1987.
The registered office address of the Bank is at Fidelity Place, 1 Fidelity Bank Close Off Kofo Abayomi Street, Victoria-Island, Lagos, Nigeria.
The principal activity of the Bank is the provision of banking and other financial services to corporate and individual customers. Fidelity Bank Plc provides a full range of financial services including investment, commercial and retail banking.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
