• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Company News

Fidelity Bank gets shareholder approval to increase share capital

Nairametrics by Nairametrics
August 15, 2023
in Company News, Equities, Markets, Stock Market
Fidelity Bank
Share on FacebookShare on TwitterShare on Linkedin

Fidelity Bank Plc has passed a resolution to increase its share capital from N16 billion to N22.6 billion, paving the way for its planned public offer to begin.

Fidelity Bank PLC disclosed plans to inflate its share capital from N16 billion to N22.6 billion, according to recent resolutions from its Extra-Ordinary General Meeting which was held virtually on August 11 2023.

These are the excerpts from the EGM

RelatedStories

FG inaugurates 25-member committee to establish Nigerian Education Data Initiative 

FG introduces N10 million loan scheme for staff of universities, polytechnics, and colleges 

July 27, 2025
Lagos commences enforcement against indiscriminate parking on Monday, July 28

Lagos commences enforcement against indiscriminate parking on Monday, July 28

July 27, 2025

Key Takeaways from the EGM

1. Boost in Share Capital: Fidelity’s share capital is poised to surge, with the creation of a whopping 13.2 billion additional ordinary shares each priced at N0.50.

2. Capital-Raising Drive: In a bid to increase its financial muscle, the bank will launch a public offer for up to 10 billion ordinary shares. Additionally, a rights issue will allow existing shareholders to snap up 3.2 billion ordinary shares. Intriguingly, for every ten shares an investor holds, they can bag one new share.

3. Board’s Empowerment: The resolutions have equipped Fidelity Bank’s Board of Directors with the green light to allocate the freshly issued shares, which will stand toe-to-toe with the bank’s existing shares, subject, of course, to obtaining the nod from regulatory bodies.

4. Compliance and Due Diligence: The board is all set to ensure all the i’s are dotted and the t’s are crossed. This encompasses adherence to regulatory protocols, timely submission of mandatory regulatory filings, and clinching all the needed approvals.

Recall Nairametrics first announced that the bank plans to raise capital via a combination of a public offer and a rights issue. 

Fidelity Bank says it is to raise its share capital to N22.60 billion as the company looks to explore strategic growth. 


Follow us for Breaking News and Market Intelligence.
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

FG inaugurates 25-member committee to establish Nigerian Education Data Initiative 
Education

FG introduces N10 million loan scheme for staff of universities, polytechnics, and colleges 

July 27, 2025
Lagos commences enforcement against indiscriminate parking on Monday, July 28
Sectors

Lagos commences enforcement against indiscriminate parking on Monday, July 28

July 27, 2025
U.S. and EU seal trade deal, agree on 15% tariffs to avert escalating trade war 
Economy

U.S. and EU seal trade deal, agree on 15% tariffs to avert escalating trade war 

July 27, 2025
Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%
Equities

Weekly Market Wrap: All-Share Index jumps 2.18% as all sectors advance; Industrial Goods leads the pack 

July 27, 2025
India to Become Nigeria’s Largest Export Corridor by 2030_ Report
Economy

Africa’s commodity exports drop by 5.6% amid oil price slump in Nigeria, Angola, others – UNCTAD 

July 27, 2025
Mergers and Acquisitions, Fitch Ratings
Economy

Fitch affirms Kogi, Oyo’s credit outlook as Stable, flags overreliance on federal allocations 

July 27, 2025
Next Post
FBN Holdings stock rises by 9.97% as Investors react to positive earnings

FBN Holdings Plc to proceed with AGM despite court order

Comments 3

  1. Emmanuel Igboahazia says:
    August 15, 2023 at 6:55 am

    This is a good development, but I hope the system will be able to use the fund effectively to the benefit of the shareholders. If not, additional shares as approved will impact greatly on their ratios especially the EPS if the productivity is not improved.

    Reply
  2. Ayena Johnson says:
    August 15, 2023 at 3:18 pm

    This will boost Fidelity bank’s share price and project it for greater expansion. Long-term investors should consider this an option.

    Reply
  3. Sani Ibrahim says:
    August 15, 2023 at 7:46 pm

    The last time they did we that bought their shares of to now we didn’t receive any bonus. We bought the shares with the hope to get profits up now I didn’t get my certificate to more than eight years.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

first bank








DUNS

Recent News

  • FG introduces N10 million loan scheme for staff of universities, polytechnics, and colleges 
  • Lagos commences enforcement against indiscriminate parking on Monday, July 28
  • U.S. and EU seal trade deal, agree on 15% tariffs to avert escalating trade war 

Follow us on social media:

Recent News

FG inaugurates 25-member committee to establish Nigerian Education Data Initiative 

FG introduces N10 million loan scheme for staff of universities, polytechnics, and colleges 

July 27, 2025
Lagos commences enforcement against indiscriminate parking on Monday, July 28

Lagos commences enforcement against indiscriminate parking on Monday, July 28

July 27, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics