Fidelity Bank announces result of the Private Placement

Fidelity Bank explains delay in publishing H1 results

Fidelity Bank plc has announced the result of the Private Placement of 3,037,414,308 ordinary shares of 50 kobo each at N4.60 per share, which opened on Wednesday, February 22, 2023 and closed on Thursday, February 23, 2023.

The bank said two applications were received for a total of 3,037,414,308 ordinary shares in connection with the Private Placement. All applications were received within the Offer period of Wednesday, February 22, 2023 and Thursday, February 23, 2023.

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“The two applications for a total of 3,037,414,308 ordinary shares were found to be valid, accepted and processed accordingly. The Private Placement was therefore 100 percent subscribed,” Fidelity Bank said in a notice at the Nigerian Exchange Limited.

The Securities and Exchange Commission (SEC) has cleared the Basis of Allotment. CSCS accounts of successful allotees will be credited with shares allotted, not later than Friday, May 5, 2023 by the Registrars to Fidelity Bank Plc, First Registrars & Investor Services Limited.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

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