Fidelity Bank has sounded its shareholder about raising an additional capital via issuance of 13,200 billion ordinary shares.
The bank sought the approval via a notice of an extraordinary general meeting signed by the company secretary, Ezinwa Unuigboje and filed on the Nigerian Exchange Limited.
The company revealed it would raise the funds via a combination of public offer and a rights issue.
Bank grows gross earnings by 34.4 per cent
At the current share price of N7.3, the capital raise could fetch the bank fresh funds of about N96.3 billion.
“That the issued share capital of the company currently N16 billion made up of 32 billion ordinary shares of N0.50 each, be increased up to N22.6 billion by the creation of up to 13,200 billion additional ordinary shares of N0.50 each,” the bank said.
