The Nigerian Stock Exchange (NSE) in a press release posted on its website today announced the commencement of the Fidson Healthcare Plc N3 billion rights issue on the 6th of March 2019.
Details of the raise
The company will be issuing 750,000,000 Ordinary Shares of 0.50K each at N4.00 per share on the basis of one (1) new ordinary share for every two (2) ordinary shares held as at 28 December 2018.
The offer will commence on the 6th of March 2019, and end on the 9th of April 2019.
Prior to this
The company had in January this year, reduced the size and price of its planned rights issue after it got regulatory approval from the Securities and Exchange Commission (SEC).
Initial plans were to raise N4.5 billion through a rights issue of 900,000,000 ordinary shares of ₦0.50 each at ₦5.00 per share, on the basis of 3 new ordinary shares for every 5 ordinary shares held as at the close of business on Thursday, 5 July 2018.
Fidson is currently trading at N4.30 in today’s trading session on the Nigerian Stock Exchange, down 8.51%.
Results for the nine months ended September 2018 show revenue for the company stood at ₦5.32 billion in Q3 2018 as against ₦5.22 billion in the same period in 2017.
Profit Before Tax stood at ₦1.15 billion in Q3 2018 as compared to ₦1.04 billion in 2017. Profit After Tax for Q3 2018 stood at ₦780 million as compared to ₦730 million recorded in the same period 2017
