thenationonlineng.net
Open in
urlscan Pro
2606:4700:10::6816:6b9
Public Scan
URL:
https://thenationonlineng.net/fidelity-bank-completes-n14b-shares-placement/
Submission: On August 14 via api from ZA — Scanned from DE
Submission: On August 14 via api from ZA — Scanned from DE
Form analysis 4 forms found in the DOM
<form class="gsc-search-box gsc-search-box-tools" accept-charset="utf-8">
<table cellspacing="0" cellpadding="0" role="presentation" class="gsc-search-box">
<tbody>
<tr>
<td class="gsc-input">
<div class="gsc-input-box" id="gsc-iw-id1">
<table cellspacing="0" cellpadding="0" role="presentation" id="gs_id50" class="gstl_50 gsc-input" style="width: 100%; padding: 0px;">
<tbody>
<tr>
<td id="gs_tti50" class="gsib_a"><input autocomplete="off" type="text" size="10" class="gsc-input" name="search" title="search" aria-label="search" id="gsc-i-id1"
style="width: 100%; padding: 0px; border: none; margin: 0px; height: auto; outline: none;" dir="ltr" spellcheck="false"></td>
<td class="gsib_b">
<div class="gsst_b" id="gs_st50" dir="ltr"><a class="gsst_a" href="javascript:void(0)" style="display: none;" title="Clear search box" role="button"><span class="gscb_a" id="gs_cb50" aria-hidden="true">×</span></a></div>
</td>
</tr>
</tbody>
</table>
</div>
</td>
<td class="gsc-search-button"><button class="gsc-search-button gsc-search-button-v2"><svg width="13" height="13" viewBox="0 0 13 13">
<title>search</title>
<path
d="m4.8495 7.8226c0.82666 0 1.5262-0.29146 2.0985-0.87438 0.57232-0.58292 0.86378-1.2877 0.87438-2.1144 0.010599-0.82666-0.28086-1.5262-0.87438-2.0985-0.59352-0.57232-1.293-0.86378-2.0985-0.87438-0.8055-0.010599-1.5103 0.28086-2.1144 0.87438-0.60414 0.59352-0.8956 1.293-0.87438 2.0985 0.021197 0.8055 0.31266 1.5103 0.87438 2.1144 0.56172 0.60414 1.2665 0.8956 2.1144 0.87438zm4.4695 0.2115 3.681 3.6819-1.259 1.284-3.6817-3.7 0.0019784-0.69479-0.090043-0.098846c-0.87973 0.76087-1.92 1.1413-3.1207 1.1413-1.3553 0-2.5025-0.46363-3.4417-1.3909s-1.4088-2.0686-1.4088-3.4239c0-1.3553 0.4696-2.4966 1.4088-3.4239 0.9392-0.92727 2.0864-1.3969 3.4417-1.4088 1.3553-0.011889 2.4906 0.45771 3.406 1.4088 0.9154 0.95107 1.379 2.0924 1.3909 3.4239 0 1.2126-0.38043 2.2588-1.1413 3.1385l0.098834 0.090049z">
</path>
</svg></button></td>
<td class="gsc-clear-button">
<div class="gsc-clear-button" title="clear results"> </div>
</td>
</tr>
</tbody>
</table>
</form><form class="gsc-search-box gsc-search-box-tools" accept-charset="utf-8">
<table cellspacing="0" cellpadding="0" role="presentation" class="gsc-search-box">
<tbody>
<tr>
<td class="gsc-input">
<div class="gsc-input-box" id="gsc-iw-id2">
<table cellspacing="0" cellpadding="0" role="presentation" id="gs_id51" class="gstl_51 gsc-input" style="width: 100%; padding: 0px;">
<tbody>
<tr>
<td id="gs_tti51" class="gsib_a"><input autocomplete="off" type="text" size="10" class="gsc-input" name="search" title="search" aria-label="search" id="gsc-i-id2" dir="ltr" spellcheck="false"
style="width: 100%; padding: 0px; border: none; margin: 0px; height: auto; outline: none;"></td>
<td class="gsib_b">
<div class="gsst_b" id="gs_st51" dir="ltr"><a class="gsst_a" href="javascript:void(0)" title="Clear search box" role="button" style="display: none;"><span class="gscb_a" id="gs_cb51" aria-hidden="true">×</span></a></div>
</td>
</tr>
</tbody>
</table>
</div>
</td>
<td class="gsc-search-button"><button class="gsc-search-button gsc-search-button-v2"><svg width="13" height="13" viewBox="0 0 13 13">
<title>search</title>
<path
d="m4.8495 7.8226c0.82666 0 1.5262-0.29146 2.0985-0.87438 0.57232-0.58292 0.86378-1.2877 0.87438-2.1144 0.010599-0.82666-0.28086-1.5262-0.87438-2.0985-0.59352-0.57232-1.293-0.86378-2.0985-0.87438-0.8055-0.010599-1.5103 0.28086-2.1144 0.87438-0.60414 0.59352-0.8956 1.293-0.87438 2.0985 0.021197 0.8055 0.31266 1.5103 0.87438 2.1144 0.56172 0.60414 1.2665 0.8956 2.1144 0.87438zm4.4695 0.2115 3.681 3.6819-1.259 1.284-3.6817-3.7 0.0019784-0.69479-0.090043-0.098846c-0.87973 0.76087-1.92 1.1413-3.1207 1.1413-1.3553 0-2.5025-0.46363-3.4417-1.3909s-1.4088-2.0686-1.4088-3.4239c0-1.3553 0.4696-2.4966 1.4088-3.4239 0.9392-0.92727 2.0864-1.3969 3.4417-1.4088 1.3553-0.011889 2.4906 0.45771 3.406 1.4088 0.9154 0.95107 1.379 2.0924 1.3909 3.4239 0 1.2126-0.38043 2.2588-1.1413 3.1385l0.098834 0.090049z">
</path>
</svg></button></td>
<td class="gsc-clear-button">
<div class="gsc-clear-button" title="clear results"> </div>
</td>
</tr>
</tbody>
</table>
</form><form class="gsc-search-box gsc-search-box-tools" accept-charset="utf-8">
<table cellspacing="0" cellpadding="0" role="presentation" class="gsc-search-box">
<tbody>
<tr>
<td class="gsc-input">
<div class="gsc-input-box" id="gsc-iw-id1">
<table cellspacing="0" cellpadding="0" role="presentation" id="gs_id50" class="gstl_50 gsc-input" style="width: 100%; padding: 0px;">
<tbody>
<tr>
<td id="gs_tti50" class="gsib_a"><input autocomplete="off" type="text" size="10" class="gsc-input" name="search" title="search" aria-label="search" id="gsc-i-id1"
style="width: 100%; padding: 0px; border: none; margin: 0px; height: auto; outline: none;" dir="ltr" spellcheck="false"></td>
<td class="gsib_b">
<div class="gsst_b" id="gs_st50" dir="ltr"><a class="gsst_a" href="javascript:void(0)" style="display: none;" title="Clear search box" role="button"><span class="gscb_a" id="gs_cb50" aria-hidden="true">×</span></a></div>
</td>
</tr>
</tbody>
</table>
</div>
</td>
<td class="gsc-search-button"><button class="gsc-search-button gsc-search-button-v2"><svg width="13" height="13" viewBox="0 0 13 13">
<title>search</title>
<path
d="m4.8495 7.8226c0.82666 0 1.5262-0.29146 2.0985-0.87438 0.57232-0.58292 0.86378-1.2877 0.87438-2.1144 0.010599-0.82666-0.28086-1.5262-0.87438-2.0985-0.59352-0.57232-1.293-0.86378-2.0985-0.87438-0.8055-0.010599-1.5103 0.28086-2.1144 0.87438-0.60414 0.59352-0.8956 1.293-0.87438 2.0985 0.021197 0.8055 0.31266 1.5103 0.87438 2.1144 0.56172 0.60414 1.2665 0.8956 2.1144 0.87438zm4.4695 0.2115 3.681 3.6819-1.259 1.284-3.6817-3.7 0.0019784-0.69479-0.090043-0.098846c-0.87973 0.76087-1.92 1.1413-3.1207 1.1413-1.3553 0-2.5025-0.46363-3.4417-1.3909s-1.4088-2.0686-1.4088-3.4239c0-1.3553 0.4696-2.4966 1.4088-3.4239 0.9392-0.92727 2.0864-1.3969 3.4417-1.4088 1.3553-0.011889 2.4906 0.45771 3.406 1.4088 0.9154 0.95107 1.379 2.0924 1.3909 3.4239 0 1.2126-0.38043 2.2588-1.1413 3.1385l0.098834 0.090049z">
</path>
</svg></button></td>
<td class="gsc-clear-button">
<div class="gsc-clear-button" title="clear results"> </div>
</td>
</tr>
</tbody>
</table>
</form><form class="gsc-search-box gsc-search-box-tools" accept-charset="utf-8">
<table cellspacing="0" cellpadding="0" role="presentation" class="gsc-search-box">
<tbody>
<tr>
<td class="gsc-input">
<div class="gsc-input-box" id="gsc-iw-id2">
<table cellspacing="0" cellpadding="0" role="presentation" id="gs_id51" class="gstl_51 gsc-input" style="width: 100%; padding: 0px;">
<tbody>
<tr>
<td id="gs_tti51" class="gsib_a"><input autocomplete="off" type="text" size="10" class="gsc-input" name="search" title="search" aria-label="search" id="gsc-i-id2" dir="ltr" spellcheck="false"
style="width: 100%; padding: 0px; border: none; margin: 0px; height: auto; outline: none;"></td>
<td class="gsib_b">
<div class="gsst_b" id="gs_st51" dir="ltr"><a class="gsst_a" href="javascript:void(0)" title="Clear search box" role="button" style="display: none;"><span class="gscb_a" id="gs_cb51" aria-hidden="true">×</span></a></div>
</td>
</tr>
</tbody>
</table>
</div>
</td>
<td class="gsc-search-button"><button class="gsc-search-button gsc-search-button-v2"><svg width="13" height="13" viewBox="0 0 13 13">
<title>search</title>
<path
d="m4.8495 7.8226c0.82666 0 1.5262-0.29146 2.0985-0.87438 0.57232-0.58292 0.86378-1.2877 0.87438-2.1144 0.010599-0.82666-0.28086-1.5262-0.87438-2.0985-0.59352-0.57232-1.293-0.86378-2.0985-0.87438-0.8055-0.010599-1.5103 0.28086-2.1144 0.87438-0.60414 0.59352-0.8956 1.293-0.87438 2.0985 0.021197 0.8055 0.31266 1.5103 0.87438 2.1144 0.56172 0.60414 1.2665 0.8956 2.1144 0.87438zm4.4695 0.2115 3.681 3.6819-1.259 1.284-3.6817-3.7 0.0019784-0.69479-0.090043-0.098846c-0.87973 0.76087-1.92 1.1413-3.1207 1.1413-1.3553 0-2.5025-0.46363-3.4417-1.3909s-1.4088-2.0686-1.4088-3.4239c0-1.3553 0.4696-2.4966 1.4088-3.4239 0.9392-0.92727 2.0864-1.3969 3.4417-1.4088 1.3553-0.011889 2.4906 0.45771 3.406 1.4088 0.9154 0.95107 1.379 2.0924 1.3909 3.4239 0 1.2126-0.38043 2.2588-1.1413 3.1385l0.098834 0.090049z">
</path>
</svg></button></td>
<td class="gsc-clear-button">
<div class="gsc-clear-button" title="clear results"> </div>
</td>
</tr>
</tbody>
</table>
</form>Text Content
55 Skip to content × search Menu × search * News * Entertainment * Business * Politics * City Beats * Opinion * Sports * About us * Advert Rates * News * Entertainment * Business * Politics * City Beats * Opinion * Sports * About us * Advert Rates FIDELITY BANK COMPLETES N14B SHARES PLACEMENT Taofik Salako, Deputy Business Editor * * * August 14, 2023 Fidelity Bank Plc at the weekend completed a N14 billion private placement with the listing of about 3.04 billion ordinary shares issued to two major investors under the private share placement. Regulatory report at the weekend indicated that a total of 3.037 billion ordinary shares of 50 kobo each were added to the outstanding shares in the name of Fidelity Bank at a price of N4.60 per share. The supplementary listing increased the total issued and fully paid up shares of Fidelity Bank from 28.97 billion shares to 32.01 billion ordinary shares of 50 kobo each. The additional shares were sold to two strategic investors, under a capital raising plan aimed at beefing up the capital base of the mid-tier bank. READ ALSO: FIDELITY BANK EYES N90B EQUITY IN NEW CAPITAL RAISING Under the private placement, two applications were received and were fully allotted. A strategic investor purchased 2.75 billion shares at N4.60 per share in a deal valued at N12.65 billion. This represents about 8.594 per cent in the post-offer share capital. Another investor acquired 287.41 million ordinary shares of 50 kobo each at N4.60 in a deal valued at N1.322 billion, representing about 0.897 per cent of the enlarged post-issuance share capital. YouTube Channel Error loading media Special BBC report on Nigeria's presidential poll unstick Share this video Copy PausePlay 00:00% Buffered100 PreviousPausePlayNext Live 00:00 / 06:55 UnmuteMute SettingsExit fullscreenFullscreen Copy video url Play / Pause Mute / Unmute Report a problem Language Back Default English Español Українська Русский Share Back Facebook Twitter Linkedin Email Vidverto Player Nigeria’s apex capital market regulator, Securities & Exchange Commission (SEC) had cleared the full allotment of the private placement. Fidelity Bank had adopted the private placement option as a way to comply with provisions of Section 124 of the Companies and Allied Matters Act, 2020 and the Companies Regulations 2021, and pursuant to Paragraphs 9 and 10 of the Articles of Association of the company. Recent changes in corporate laws disallow keeping subsisting unissued shares, leaving companies with the option of cancelling current unissued authorised share capital or issuing out such shares. Ads by Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 00:00/01:00 Skip Ads by Shareholders had at an extraordinary general meeting last October in Lagos approved the private placement, waiving their pre-emptive rights to the unissued shares to be allocated to select private investors and approved that such issued shares to private investors shall rank in all respect equally with the existing ordinary shares of the bank. Advertisement Fidelity Bank is building up its capital base as the bank increases its market share. On the back of the success of the N14 billion private share placement, the bank recently launched a hybrid capital raising plan aimed at sourcing some N90 billion in new equity funds from existing and new shareholders. The bank plans to issue 13.2 billion ordinary shares of 50 kobo each to new and existing investors to boost the bank’s capital base. 5 Cases of HIV Cure or Remission The Body Pro | Sponsored Adam Levine Buys Massive Mansion in LA Mansion Global | Sponsored Advertisement The bank plans to increase its share capital from N16 billion or 32 billion shares to N22.6 billion or 45.2 billion shares through creation of additional 13.2 billion ordinary shares of 50 kobo each Under the plan, the bank is seeking to float a public offer of 10 billion shares and a rights issue of 3.2 billion shares. The rights issue will be allotted on the basis of one new share for every 10 shares held. At the current market valuation, market analysts estimated that the bank may be able to raise some N90 billion, although the final offer prices may be determined by the market situation and the extent of discount the bank prefers for its rights issue. The Nigerian Exchange (NGX) upgraded Fidelity Bank from a low-priced stock to medium-priced stock following recent appreciation in the share price of the commercial bank. - Advertisement - According to the NGX, Fidelity Bank traded above the N5 mark on February 20, 2023 and has remained above the N5 mark up until close of business on June 30, 2023, thus necessitating the upgrade to medium-priced stock in line with the three-tier, price-based categorization at the Exchange. Fidelity Bank has said it needed new capital to sustain its current strong growth trajectory in order to increase profitability, domestic and international expansion and enhancement of its digital capabilities. “Advances in technology, the rapid evolution of the business of banking and changes in the operating landscape make it imperative that the bank remains agile, adaptable and properly positioned to respond appropriately to developments, while remaining a competitive and forward looking institution,” the bank stated. According to the bank, the new hybrid capital raising is aimed at ensuring that the bank can take advantage of emerging business opportunities and secure long term profitability and competitive advantage, while ensuring increased shareholder value. Managing Director, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe said the bank was growing in leaps and bounds and needed to expand its capital base to take advantage of emerging opportunities. “We will also use the additional capital to enhance our technology infrastructure to enable us to serve more customers,” Onyeali-Ikpe said. Advertisement -------------------------------------------------------------------------------- Abuja doctor reveals a unique way to permanently cure weak erection, small and shameful manhood, and infertility issues without side effects within a short period. Click now to see!! -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- BREAKING NEWS: Nigerian workers salary and compensation can now be paid in US Dollars; regular individuals can train and earn up to $11,000 monthly (₦10.4million naira) click here to start !!! -------------------------------------------------------------------------------- 30+ Freaking Awesome Gadgets Trending Boom | Sponsored Doctor: If You Have Tinnitus (Ear Ringing) Do This Immediately! healthtrend.live | Sponsored 2023 New Credit Cards That Don't Require a Credit Check May Surprise You Credit Cards | Search Ads | Sponsored One Teaspoon Every Night Burns Body Fat Like Never Before, You Will Fit In Your Pants Again! getfittoday.online | Sponsored Forget the Old Shaving Methods. You Won't Need to Spend Money on Shaving Cream. rakvel-qinux.com | Sponsored Diabetes Is Not From Sweets! Meet The Main Enemy Of Diabetes diabeteslife.online | Sponsored Pro Verbraucher Senioren empört: Anspruch auf Sterbegeld ist vielen unbekanntPro Verbraucher| SponsoredSponsored Undo Pro Verbraucher Gesetzliche verschweigen: Deutsche über 35 haben Anspruch auf kostenlosen ZahnersatzPro Verbraucher| SponsoredSponsored Undo Feldluft Rücken-, Knie- oder Fußschmerzen? Senioren begeistert von diesem TrickDiese speziellen Schuhe können die Füße entlasten und die Gesundheit unterstützen. Jetzt ausprobieren und genießen Sie komfortables Gehen und Stehen!Feldluft| SponsoredSponsored Mehr erfahren Undo Tieberg™️ Was diese neuen Socken bei älteren Menschen bewirken, ist unglaublich!Tieberg™️| SponsoredSponsored Mehr erfahren Undo Prostata Gesundheit Urologe: Tun Sie dies einmal täglich um vergrößerte Prostata zu schrumpfenProstata Gesundheit| SponsoredSponsored Angebot einholen Undo Sixx Prostata Massage: So geht esPaula kommtSixx| SponsoredSponsored Jetzt Anschauen Undo Advertisement Please enable JavaScript to view the comments powered by Disqus. JUST IN EDO IMPEACHMENT ALLEGATION: PDP PASSES VOTE OF CONFIDENCE ON OBASEKI 2 HOURS AGO SPEEDING DRIVER KILLS FIVE, SURVIVES AS BUS SOMERSAULTS IN ANAMBRA 2 HOURS AGO BBNAIJAALLSTARS JURY EVICTS URIEL 4 HOURS AGO COUPS AND THE FUTURE OF DEMOCRACY 4 HOURS AGO NORTHCENTRAL GOVERNORS MULL PLATFORM TO TACKLE INSECURITY, OTHERS 7 HOURS AGO COMPANY * About us * Advert Rates * Privacy Policy QUICK LINKS * News * Sports * Business * City Beats * Entertainment * Politics COLUMNS * Monday * Tuesday * Wednesday * Thursday * Friday * Saturday * Sunday 2023 The Nation Newspaper, Ltd. All Right Reserved. Made by Huge. word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word word mmMwWLliI0fiflO&1 mmMwWLliI0fiflO&1 mmMwWLliI0fiflO&1 mmMwWLliI0fiflO&1 mmMwWLliI0fiflO&1 mmMwWLliI0fiflO&1 mmMwWLliI0fiflO&1 × search Menu × search More stories to check out before you go Keep on reading BREAKING: Ekweremadu daughter kidney’s ‘donor’ 21 – NISBREAKING: Ekweremadu daughter kidney's 'donor' 21 - NIS The Nation NewspaperThe Nigerian Immigration Service(NIS) has clarified the man at the centre of the alleged transplant saga involving former Deputy Senate President IkeThe Nation Newspaper Group 3 Undo Man dies after sex romp with married lover | The Nation NewspaperA father of four children, Chikwado Obiyor, has been reported dead after a sex romp with his married lover, identified as Chidinma.The Nation Newspaper Group 3 Undo I stand by what God told me on presidential poll, Pastor Adefarasin hits critics | The Nation NewspaperThe Senior Pastor, House on the Rock Pastor Paul Adefarasin has said he stood by what God told him on the parable of ‘Saul and David’ ahead of theThe Nation Newspaper Group 3 Undo ‘I didn't become rich after bathing with human head’ | The Nation NewspaperA 26-year-old photographer and barber, Franklin Akinyosuyi, has narrated how he failed to become a millionaire after bathing with human head for one month.The Nation Newspaper Group 3 Undo ' ' ' ' ' ' How Pastor Taiwo Odukoya died | The Nation NewspaperFacts have emerged on the circumstances surrounding the death of founder of Fountain of Life Church, Ilupeju Lagos Pastor Taiwo Odukoya. The Nation Newspaper Undo Pro Verbraucher Senioren empört: Anspruch auf Sterbegeld ist vielen unbekanntPro Verbraucher| SponsoredSponsored Undo Tieberg™️ Was diese neuen Socken bei älteren Menschen bewirken, ist unglaublich!Tieberg™️| SponsoredSponsored Mehr erfahren Undo Lunch with Obioma | The Nation NewspaperWhat gave him away were his shorts. I chuckled to myself, this man has become an oyinbo man. It was a high-taste, luxury hotel in Lagos, and Nigeria’s topThe Nation Newspaper Undo Bobrisky slept with me every night, ex-PA alleges | The Nation NewspaperCross dresser Bobrisky’s former personal assistant, Oye Kyme, has opened up a new can of worms.The Nation Newspaper Undo Ibadan forest of horror: Police arrest six suspectsThousands of curious residents flooded yesterday the “evil forest” where dying men and women, human skulls, and decomposing bodies were fouThe Nation Newspaper Undo Oluremi Tinubu: Portrait of a smart, strategic achiever | The Nation NewspaperNothing completes Mrs Oluremi Tinubu's portrait better than her sense of fairness and concern for others. I'll illustrate this by an episode in the year 2019The Nation Newspaper Undo Lady who jumped into Lagos Lagoon a DSS staff The Nation NewspaperLady who jumped into Lagos Lagoon a DSS staffThe lady who jumped into the Lagos Lagoon on Thursday afternoon has been identified as Adetutu Adedokun, a staff of the Department of State Services (DSS).The Nation Newspaper Undo Prostata Gesundheit Urologe: Tun Sie dies einmal täglich um vergrößerte Prostata zu schrumpfenProstata Gesundheit| SponsoredSponsored Angebot einholen Undo Sixx Prostata Massage: So geht esPaula kommtSixx| SponsoredSponsored Jetzt Anschauen Undo Presidential guards killed in Abuja terrorists’ ambush buried The Nation NewspaperPresidential guards killed in Abuja terrorists’ ambush buriedCaptain Attah Samuel and four other soldiers killed in terrorists' ambush in Bwari, a suburb of the Federal Capital Territory (FCT), have been buried.The Nation Newspaper Undo Odumeje beaten, church pulled down in Onitsha The Nation NewspaperOdumeje beaten, church pulled down in OnitshaTask Force set up by the Anambra State government yesterday demolished the Mountain of Holy Ghost Intervention and Deliverance Ministry in Onitsha owned byThe Nation Newspaper Undo We'd like to show you notifications for the latest news and updates. AllowCancel