One of the leading pharmaceutical firms in Nigeria, Fidson Healthcare Plc, has written to the Nigerian Exchange (NGX) Limited for an approval to list its N30 billion rights issue on the platform.
The company sought the authorisation through its stockbrokers, CardinalStone Securities Limited and Imperial Asset Managers Limited.
Fidson is planning to carry out the exercise on the basis of one new ordinary share for every four existing ordinary shares held as at the close of business on Wednesday, November 12, 2025.
Business Post reports that a total of 600 million shares are up for grabs during the rights issue at a unit price of N35.00.
A notice signed by the Head of Issuer Regulation Department of the exchange, Mr Godstime Iwenekhai, confirmed this development.
“Trading license holders are hereby notified that Fidson Healthcare Plc has through its stockbrokers, CardinalStone Securities Limited and Imperial Asset Managers Limited, submitted an application to Nigerian Exchange Limited for the approval and listing of a rights issue of 600 million ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every four existing ordinary shares held as at the close of business on Wednesday, November 12, 2025,” a part of the notice said.
According to the Director of Finance for Fidson, Mr Imokha Ayabae, proceeds from the rights issue would also be used to produce innovative products consumers need.
“This N30 billion mandate is pivotal for our future. It provides us with the financial agility to pursue strategic initiatives, including capacity expansion, product innovation and market penetration that will solidify our leadership position in the healthcare sector,” he explained.
“We are poised to leverage these funds to enhance our operational efficiency and broaden our impact across Nigeria and other African countries,” Mr Ayabae added.