Fidelity Bank Extends N127.1bn Capital Raise Deadline
One of the Nigerian top lenders in the market, Fidelity Bank Plc has extended its capital raising to August 12 after the company announced decision to take surplus money.
The tier-1 Nigerian lender told the Nigerian Exchange that the board of directors held an emergency meeting where they decided to create additional 8.2 billion shares to accommodate oversubscription from the ongoing rights issue and public offer.
Fidelity Bank Plc has been in the market since June 20 to raise N127.1 billion ahead of recapitalisation deadline scheduled for the end of first quarter of 2026.
The Nigerian lender seeks the fund to support its IT Infrastructure, business and regional expansion and product distribution channels, Atlass Portfolios Limited told investors.
“This is to bring to your notice that the Fidelity Bank Plc Issue of ₦127 billion combined Offer of Public Offer and Right Issue, is still open and is now scheduled to close on Monday, 12 August 2024”, investment banking firms told customers in an email note on Monday. # Fidelity Bank Extends N127.1bn Capital Raise Deadline. #Fidelity Bank Extends N127.1bn Capital Raise Deadline
