Fidson Lists Extra 586 Million Shares On Stock Exchange

0

Fidson Healthcare Plc had posted extra 586,360,250 common shares on the Nigerian Stock Exchange (NSE).

The NSE, in a report on Monday, stated the listing of the shares was by way of a rights issue.

Fidson had offered a rights issue of 750 million ordinary shares of 50 kobos each at N4 per share on the basis of one new ordinary share for every two ordinary shares held.

It stated the offer for subscription began on March 6, 2019, and that the receiving list ended on April 9.

The organisation had in January got the approval of the Securities and Exchanges Commission to revise the terms of its rights issue.

The initial terms of the rights issue were 900 million ordinary shares of 50 kobos each at N5 per share on the basis of three new ordinary shares for every five ordinary shares held as at the close of business on July 5.

The NSE notified dealing members about the listing of the additional 586,360,250 ordinary shares of Fidson Healthcare, which were listed on the daily official list of Exchange on Monday, July 1.

Read Also:  Average Intercity Transport Fare Increased by 3.4% in April 2018 - NBS

The bourse said, “The additional shares listed arose from Fidson Healthcare’s rights issue of 750,000,000 ordinary shares of 50 kobos each at N4 per share on the basis of one new ordinary share for every two ordinary shares held as of December 28, 2018.

“The rights issue was 78.18 per cent successful. With this listing of the additional 586,360,250 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare has now increased from 1,500,000,000 to 2,086,360,250 ordinary shares.”