NGX GCEO confident as FCMB Group commences N110.9bn capital raise

FCMB Group Plc, a foremost player in Nigeria’s financial sector, recently held a Facts Behind the Offer (FBO) session at the Nigerian Exchange (NGX) in furtherance of its plan to raise 110.9 billion naira.

The Group commenced its public offer of 15.197 billion shares at N7.30 per share, amounting to N110.9 billion on July 29, 2024, and it is expected to close on September 4, 2024.

During the session, FCMB Group led by its Group Chief Executive, Mr. Ladi Balogun, presented compelling evidence of the Group’s resilience, operational strength and financial performance. Despite ongoing economic uncertainties and market fluctuations, FCMB Group has sustained robust growth and demonstrated exceptional resilience. The Group reported notable improvements in key financial metrics, including revenue growth and profitability, underscoring its effective management and strategic agility.

The Group Chief Executive Officer asserted: “Our performance this year is a reflection of FCMB Group’s resilience and our ability to adapt to changing market conditions. Today’s presentation at the Nigerian Exchange highlights not just our financial achievements but also our commitment to delivering long-term value to our shareholders and stakeholders.”

The Group CEO, Nigerian Exchange Group, Mr. Temi Popoola, commended FCMB Group and expressed support for its capital raise while acknowledging the digital innovations which the Group has developed around its public offer, and how such initiatives are aligned with the digital transformation drive of the NGX.

We have no doubt whatsoever that it is a strong story and as we start this journey with FCMB today as an entire capital market community, they will find the support that they need. I wish FCMB all the best, Popoola remarked.

Similarly, the CEO, Nigerian Exchange Limited, Mr. Jude Chiemeka, expressed optimism about FCMB’s capital raise, highlighting the exchange’s commitment to facilitating a seamless process.

The FBO session spotlighted several key achievements of the Group, including a significant increase in net income, and continued expansion in digital banking services. The Group’s diverse portfolio and innovative strategies have enabled it to navigate economic challenges successfully while continuing to invest in growth and sustainability.

Attendees at the session had the opportunity to engage with FCMB Group’s executive team, gaining insights into the Group’s strategic priorities and future plans. Discussions included the Group’s focus on digital transformation, sustainable finance, and its plans to leverage emerging market opportunities for continued growth.

FCMB Group’s strong financial performance and resilience in the face of adversity reaffirm its position as a leader in the financial sector, poised for sustained success and growth, and these constitute the strong points that cast it as a profitable investment.

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