Fidson Healthcare to raise N20bn additional capital

Fidson Healthcare Plc has received the approval of its shareholders to raise additional capital of up to N20billion.

The directors are to raise the capital by way of public offering, rights issue, strategic allotment, private/special placement of shares or through a combination of methods, subject to terms and conditions to be determined by the directors.

The approval was given at the company’s 25th annual general meeting (AGM) held on July 4 in Lagos. At the meeting, the shareholders approved a dividend of 60 kobo per share amounting to N1.376billion.

The company’s annual report and financial statements for the year ended December 31, 2023 shows revenue rose to N53.050billion from N40.634billion in 2022, up 31percent.

Profit before tax increased to N5.917billion from N5.781billion in 2022, up by 2percent, while profit for the year was N3.607billion, down by 14percent from N4.187billion in 2022. The company’s retained earnings reached N13.313billion in 2023, from N10.941billion in 2022, up 22percent. Shareholders fund was N19.293billion in 2023, from N16.919billion in 2022, up 14percent.

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).