Fidelity Bank announces private placement of 3.037bn ordinary shares

Fidelity Bank Plc has announced a private placement of 3,037, 414,308 ordinary shares of 50k at N4.60 per share, which opened on Wednesday, February 22 and closed on Thursday, February 23, 2023.

Two applications were received for a total of 3,037,414,308 ordinary shares in connection with the private placement.

The two applications were found to be valid, accepted and processed. All applications were received within the offer period of Wednesday, February 22 and Thursday, February 23, 2023.

The private placement by the two applications received a 100 percent subscription. In terms of the breakdown of the allotment, the first applicant got the 287,414,308 shares applied for at 100 percent, while the second applicant got the 2,750,000,000 shares applied for also at 100 percent.

The Securities & Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) has cleared the basis of the allotment stated above as well as the announcement.

CSCS accounts of successful allottees will be credited with shares allotted not later than Friday, May 5, 2023, by the Registrars to Fidelity Bank Plc, First Registrars & Investor Services Limited.

 

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