Fidson Healthcare Plc this week released its financial statements for the year ended December 2017. Revenue surged by 86% from ₦7.6 billion in 2016 to ₦14 billion in 2017. The company also quadrupled its final dividend from ₦0.05 in 2016 to ₦0.20 in 2017 amounting to ₦300 million.
Investors have also keyed into the stock as its share price rose by 201% from ₦1.23 in December 2016 to ₦3.70 in December 2017. From January 2018 to date, the stock has also appreciated by 54% and is currently trading at ₦5.70.
Billionaire Status
Fidson was founded by Fidelis Ayebae who remains the Managing Director (MD). He also holds 35.51% of the company’s shares through direct and indirect vehicles. Ayebae has a direct holding of 446,534,443 shares. In addition, he has an indirect holding of 86,120,000 shares through Glorious Haven Limited.
Fidson’s share price as at March 2017 when the company released its FY 2017 results was ₦1.21, giving him a net worth of ₦644 million. Going by the company’s current share price of ₦5.70, the value of Ayebae’ shareholdings are up by over N2.3 billion, giving him a net worth of ₦3.0 billion, and pushing him to billionaire status.
Ayebae’s networth could be significantly larger if one were to include other equity holdings. His holdings in NEM Insurance Plc, where he is Chairman, are valued at ₦67 million, going by current market prices.
Profile
Fidelis Akhagbaso Ayebae graduated from the Mainland Institute of Technology in 1976 with a Diploma in Civil Engineering. He obtained an Advance Diploma in Business Administration from the University of Lagos in 1999.
Prior to establishing Fidson in 1995, he worked in Nigerian International Bank (Citibank) as Assistant General Manager and Metalum Limited as Project Manager.
He is a Fellow of the Chartered Institute of Corporate Affairs and Associate of the Chartered Institute of Administration.
He is also a member of the Nigerian Institute of Management (NIM), the Institute of Directors (IOD), and several associations including the Manufacturers Association of Nigeria (MAN), Pharmaceuticals Manufacturers Group of MAN and the Nigerian American Chamber of Commerce.
He sits on several boards including NEM Insurance where has been a Non-Executive Director since September 2009. He is married with children.
Fidson Healthcare was incorporated as a private limited liability company on 13 March,1995 and commenced business activities on 15 March 1995. The principal activities of the Company include manufacturing and distribution of pharmaceutical products. The company’s shares were quoted the Nigerian Stock Exchange on 5 June, 2008.