Dr Nneka Onyeali-Ikpe, the Managing Director/Chief Executive Officer of Fidelity Bank, expressed satisfaction in surpassing the set target during the recently concluded combined offer.
The revelation came in an email signed by Onyeali-Ikpe on Tuesday, a day after the completion of the N127bn combined rights issue and public offer that began on June 20.
Being the first bank to kickstart its capital raise after the directive from the Central Bank of Nigeria, Fidelity Bank has achieved success.
In addressing the shareholders, Onyeali-Ikpe stated, “Following the successful completion of the combined offer, I am pleased to announce that we have not only met but exceeded our capital-raising goal set for this initial phase. The level of investor trust in the bank is both reassuring and humbling.”
“The funds obtained from our combined offer will be used to execute our growth strategy, supporting our local and international expansion efforts, enhancing IT infrastructure, and providing capital for key sectors of the economy.”
She acknowledged the significant support from regulatory bodies such as the CBN, Securities and Exchange Commission, and Nigerian Exchange in ensuring the smooth implementation of the first phase of their recapitalization plans.
Fidelity Bank offered intending investors the opportunity to acquire 10 billion ordinary shares of 50 kobo each through the public offer and 3.2 billion ordinary shares of 50 kobo each via rights issue.
Having extended the offer period by 14 days, it finally concluded on Monday.