Founder of FinTribe and certified financial coach, Jennifer Awirigwe (‘Financial Jennifer’) is reminding everyone that the Fidelity Bank Rights Issue & Public Offer opened last week.
A rights issue allows existing shareholders sell their shares or purchase additional units (they are preferentially offered a specific amount of rights based on the total number of shares owned), while the Public Offer makes shares available to new investors.
The Fidelity Bank Rights Issue is for NGN3.2 billion ordinary shares of 50 kobo each at NGN9.25 per share, on the basis of 1 new share for every 10 shares held as at January 05, 2024.
The Public Offer is for 10 billion shares at NGN9.75 per share.
Fidelity Bank also held a “facts behind the offer” session at the Nigerian Exchange Limited on Thursday last week.
In reaction, Financial Jennifer says:
Their numbers look good. And they pay dividends. These are some of the things you should consider and make your decision, as this is not financial advice.
Minimum unit you can buy is 1,000 units. That’s a total of N9,750
You can download the form from their [Fidelity Bank] website, fill the form and submit at the branch OR through any of the issuing houses on the transaction, like Afrinvest, Cowry.
The Rights Issue and Public Offer will close on Monday, July 29, 2024.