Fidelity Bank Plc has announced the results of its private placement of 14.8 billion ordinary shares at N17.50 per share as of December 31, 2025
According to the April 24, 2026, disclosure, after CBN’s capital verification process, only 12.97 billion shares were successfully allotted, amounting to N227.05 billion.
This represents a subscription level of 87.7% of the offer, following capital verification by the Central Bank of Nigeria (CBN).
Above stemmed from a total of 20 applications received for 16.78 billion shares, representing 113.4% subscription level before the regulatory verification.
What the disclosure is saying
The banks received a total of 16.78 applications, out of which:
- 14 applications covering 12.24 billion shares were fully verified and allotted in full
- 1 application for 1.61 billion shares was partially verified, with 735.94 million shares verified and allotted
- 5 applications representing 2.93 billion shares were not verified
The allocation structure shows it is skewed toward large-ticket investors, with the highest application band (above 2 billion shares) accounting for a significant share of total allotment value.
On settlement, refunds for unsuccessful or unverified applications will be processed by April 27, 2026, while successful allottees will receive shares in their CSCS accounts by April 30, 2026.
- The entire allotment process and basis of allocation were reviewed and cleared by the Securities and Exchange Commission (SEC), reinforcing regulatory compliance.
Get up to speed
- Fidelity Bank has been informing the public about raising capital to meet the CBN’s new capital requirement of N500 billion. On June 18, 2025, the bank, in a press release on the CBN circular on forbearance loans, stated that:
- It successfully raised N273 billion through a Public Offer and Rights Issue and intended to raise the additional sum of N200 billion through a Private Placement in 2025FY
- Again, the bank, via a disclosure of January 6, 2026, on the NGX, stated that it successfully opened and closed the private placement earlier announced on December 31, 2025.
- The exercise, which raised N259 billion and increased the bank’s eligible capital from N305.5 billion to N564.5 billion, was awaiting regulatory approval.
- As of September 30, 2025, the bank’s share capital and share premium account stood at N305.555 billion according to the bank’s 9-month financial statement.
- The Bank had previously raised N175.85Billion through a Public Offer and Rights Issue in 2024, bringing its eligible capital to N305.5 billion and leaving a margin of N194.5 billion to meet the new regulatory capital requirement of N500 billion.
What you should know
The 12.97 billion shares amounting to N227.05 billion allotted and verified, will take the Bank’s share capital and share premium account to N532.55 billion.
- The bank has yet to release its 2025 full-year results. But according to its most recent financial statements, 9-month 2025, shares outstanding stood at 50.200 billion compared to 32.200 billion shares in the same period of 2024.
- For the same period, the bank reported a 6% decline in profit after tax to N211.72 billion, translating to earnings per share of N4.22 compared to N7.02 in 9M 2024.
The market seemed to react to the news, with the share price closing 1.3% higher at N22.30, up from the previous day’s price. Year-to-date, it has gained 17.37%.”
With a market capitalization of N1.12 trillion, the bank has again joined the elite group of Stocks Worth Over One Trillion (SWOOT).
