FCMB Commences Offer for Subscription at N7.30k Per Share

FCMB Commences Offer for Subscription at N7.30k Per Share

By Fly Cable News

FCMB Group Plc has announced an Offer for a Subscription of 15,197,289,219 ordinary shares at N7.30k per share, opened and scheduled to close on Wednesday, September 4, 2024.

The shareholders authorised the Board of Directors to raise an additional capital of N150bn through public offerings, private placements, and rights issues at the Annual General Meeting (AGM) in Lagos on May 24, 2024.

According to the letter released by the Chairman, Mr Ladi Jadesimi, “Following shareholders’ approval to raise additional capital and after careful evaluation of the various capital raising options at the disposal of the Issuer, I am delighted to inform you that the Board of Directors, pursuant to the board resolution dated June 03, 2024, has approved the issuance of 15,197,289,219 Ordinary Shares of N0.50k through an offer for subscription”.

The shares will be offered at N7.30k per ordinary share of N0.50k. The Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), and NGX Regulation Limited have been sought and obtained necessary approvals for issuing, registering, and listing the shares to be issued.