… Fidson targets N3bn from series-11 Commercial Paper
Nigeria’s equities market failed to stay on the negative territory after rising by 0.47 percent or N263billion on Thursday.
This happens as corporate announcements like interim dividend and bonus shares are strengthening further buy-side action by investors.
Expectedly, shares of United Capital Plc which recently proposed 90kobo interim dividend and bonus of 2 new shares for 1 rose most on Thursday, from N36.30 to N39.90, up by N3.60 or 9.92percent.
Others on the top gainers list include Oando which moved from N16.90 to N18.55, adding N1.65 or 9.76percent and Africa Prudential which increased from N8.90 to N9.75, adding 85kobo or 9.55percent.
Also, Learn Africa share price moved from N3.52 to N3.85, adding 33kobo or 9.38percent, while ABC Transport increased from 77kobo to 84kobo, adding 7kobo or 9.09percent.
At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) and equities Market Capitalisation increased from preceding day’s lows of 100,032.32 points and N56.645 trillion respectively to 100,503.21 points and N56.908trillion.
In 9,013 deals, investors exchanged 392,795,396 shares valued at N8.333billion. GTCO, Veritas Kapital Assurance, FCMB Group, UBA and Cutix were actively traded stocks.
The Series 11 Commercial Paper (CP) of Fidson Healthcare Plc of up to N3 billion under its N25billion Commercial Paper Programme is now open and scheduled to close on Tuesday July 23, 2024.
For the year ended 2023, the company recorded N53.1 billion in sales, a 31 percent increase over N40.6 billion recorded in the previous year.
Fidson is one of the leading pharmaceutical manufacturing companies in Nigeria. The Company is engaged in the manufacturing, marketing, and sales of pharmaceutical and healthcare products in Nigeria and West Africa. Fidson currently has over 250 duly registered pharmaceutical brands, across different therapeutic areas, in the Nigerian market.
Fidson Healthcare Plc had accessed funding through the Capital markets, having issued a N5 billion 210 and 270-day Commercial paper in December 2023, N5 billion 181 & 269-day Commercial paper in November 2023, N5 billion 269- day Commercial paper in March 2023, N3 billion 270- day Commercial paper in June 2022, N2.15 billion 90-day Commercial Paper in December 2021, N4.5 billion 270-day Commercial Paper in March 2021, a N2.3 billion Rights Issue in July 2019, and a N2.0 billion five-year Secured Fixed Rate Corporate Bond in November 2014.
