• Home
  • About Us
  • Contact Us
Thursday, June 26, 2025
Star Lite News
  • Home
  • News
    • All
    • Business
    NYSC

    NYSC Sanctions Corps Member Raye Over Criticism of President Tinubu, Sparks Outrage

    Suspension

    Benue Governor Alia Suspends Chief Press Secretary Indefinitely

    EFCC

    EFCC Declares MD Of Fargo Oil Firm Wanted Over N976million Fraud

    EFCC-SunTrust SunTrust Bank Ltd.

    EFCC Arraigns Sun Trust Bank CEO, Executive Director, Halima Buba and Innocent Mbagwu Over ‘$12m Money Laundering’

    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Two Days Public Holiday For Sallah

    WAEC Candidate

    Tragedy in Ibadan: WAEC Candidate Killed by Stray Bullet During Police Chase

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

    AMVCA

    AMVCA 2025 Awards: Full List Of Winners As Chioma Chukwuka, Femi Adebayo Win Best Actress, Actor

    Nathaniel Bassey

    Nigeria’s Gospel Music Maestro Nathaniel Bassey To Minister At Trump’s Inaugural Prayer Breakfast

    Doris Ogah

    Doris Ogah Becomes 45th Miss Nigeria

    Netflix

    Netflix Investments Give Life To Nollywood Projects

    BBNaija

    STREEZE become the third pair of housemates to be evicted from season 9 of the #BBNaija show

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    NYSC

    NYSC Sanctions Corps Member Raye Over Criticism of President Tinubu, Sparks Outrage

    Suspension

    Benue Governor Alia Suspends Chief Press Secretary Indefinitely

    EFCC

    EFCC Declares MD Of Fargo Oil Firm Wanted Over N976million Fraud

    EFCC-SunTrust SunTrust Bank Ltd.

    EFCC Arraigns Sun Trust Bank CEO, Executive Director, Halima Buba and Innocent Mbagwu Over ‘$12m Money Laundering’

    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Two Days Public Holiday For Sallah

    WAEC Candidate

    Tragedy in Ibadan: WAEC Candidate Killed by Stray Bullet During Police Chase

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

    AMVCA

    AMVCA 2025 Awards: Full List Of Winners As Chioma Chukwuka, Femi Adebayo Win Best Actress, Actor

    Nathaniel Bassey

    Nigeria’s Gospel Music Maestro Nathaniel Bassey To Minister At Trump’s Inaugural Prayer Breakfast

    Doris Ogah

    Doris Ogah Becomes 45th Miss Nigeria

    Netflix

    Netflix Investments Give Life To Nollywood Projects

    BBNaija

    STREEZE become the third pair of housemates to be evicted from season 9 of the #BBNaija show

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
Star Lite News
No Result
View All Result
Home Press Release

Fidelity Bank Stock record Over 20% Growth Following Combined Offer

starliteadmin by starliteadmin
September 22, 2024
in Press Release
0
Fidelity Bank
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

Growing investor confidence and strong market participation have continue to boost optimism about Fidelity Bank’s stock as the bank experienced a remarkable 20% surge on the Nigerian stock market, with its share price surpassing the N13 mark by the third week of September. This upward trend follows the bank’s combined offer, which included a Public Offer and Rights Issue launched on June 20, 2024.

The combined offer consisted of 10 billion ordinary shares priced at N9.75 for the public and 3.2 billion shares at N9.25 for existing shareholders, collectively raising N127.1 billion. After a consolidation period from June to August, coinciding with the close of the combined offer, Fidelity Bank’s shares have gained over 20% month-to-date (MtD) in September.

Fidelity Bank has maintained a robust bullish trajectory since August 2018, when its stock dipped below N2. Since then, it has surged by more than 680%. The bank started trading in 2024 at N10.85, with 900 million shares exchanged. However, uncertainties related to recapitalization efforts among major Nigerian banks led to a temporary decline to N9 per share in April. Despite this setback, the stock regained its upward momentum after touching a low of N9.00.

Following the completion of the combined offer in August, Fidelity Bank’s share price climbed once again, gaining over 20% by mid-September. A key factor contributing to this latest surge is the successful combined offer, which paves the way for an upcoming private placement.

The Fidelity Bank combined offer, which was the first in the current recapitalization phase in the banking industry, saw significant demand, prompting an extension that added 8.2 billion shares. Of these, 5 billion were sold through the Public Offer and 3.2 billion via the Rights Issue. This high demand resulted in increased market activity, with over 2 billion shares traded in June and 3 billion in July.

As the combined offer concluded on August 12, the stock entered a consolidation phase, but trading activity picked up notably by mid-September. Weekly trading volumes reached 27 million shares, pushing the stock past the N13.00 threshold, sustaining its upward trend.

In a recent note to investors, the bank’s Managing Director, Dr. Nneka Onyeali-Ikpe,OON expressed gratitude for the strong response to the capital raise, stating that, “With the conclusion of the Combined Offer, I am delighted to announce that we have met and surpassed our capital-raise target for the first phase of this exercise.”

“My profound gratitude goes to our customers, new investors and existing shareholders for supporting us in this journey. We will forever be grateful for the support we received during this capital-raise exercise.

“Our deepest thanks go to our regulators namely the CBN, Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX): the CBN for its vision of recapitalizing Nigerian banks to ensure banks have sufficient capital to sustain a $1tn economy in the near future and improve the overall confidence in the banking industry; SEC and the NGX for the role they played in ensuring the seamless execution of this first phase of our recapitalization plans.”

Tags: Dr. Nneka Onyeali-IkpeFidelity BankManaging DirectorOONStarlitenews
Previous Post

#Edo Election: INEC Uploads Over 95% Of Edo Election Results On IReV

Next Post

Access Bank’s Contributions in Africa’s Transition to a Low Carbon Economy

starliteadmin

starliteadmin

Related Posts

Fidelity Bank

Fidelity Bank Promotes 12% of Workforce and Increases Salaries by 20% across board

by starliteadmin
June 26, 2025
0

Fidelity Bank Plc, one of Nigeria’s top-tier financial institutions, has promoted 376 employees following its recently concluded annual performance review...

Fidelity Bank

Fidelity Bank MD Not Part of the Woobs Case

by starliteadmin
June 25, 2025
0

Reports published by Sahara Reporters on June 25 claimed that Fidelity Bank’s MD, Dr. Nneka Onyeali-Ikpe was a party to...

Akmodel Group

Sanwo-Olu: Akmodel CEO Celebrate A Diamond Leader at 60!

by starliteadmin
June 25, 2025
0

Akmodel Group Managing Director and CEO, Builder (Dr.) Abdulhakeem Odegade, joins millions across Nigeria to celebrate the life and leadership...

Fidelity Bank

Fidelity Bank Partners with Ashoka to Empower Young Innovators

by starliteadmin
June 24, 2025
0

As part of its commitment to youth empowerment and social impact, leading financial institution, Fidelity Bank Plc has partnered with...

Fidelity Bank

Fidelity Bank Uplifts Old People’s Home with Essential Items Donation

by starliteadmin
June 23, 2025
0

Leading financial institution, Fidelity Bank Plc has reaffirmed its commitment to corporate social responsibility with the donation of food and...

Fidelity Bank

Fidelity MD, Onyeali-Ikpe Urges Women to Embrace Lifelong Learning and Collaboration for Career Success

by starliteadmin
June 22, 2025
0

Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, OON, has encouraged women professionals to embrace...

Next Post
Access Bank

Access Bank’s Contributions in Africa’s Transition to a Low Carbon Economy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

  • Tinubu and Timothy

    Prince Chukwudi Timothy Appeals For Dialogue Instead Of Nationwide Protest

    0 shares
    Share 0 Tweet 0
  • Peter Obi says victory of Christ the King College at World Affairs Challenge heartwarming

    0 shares
    Share 0 Tweet 0
  • Family reveals Ifeanyi Ubah’s burial date

    0 shares
    Share 0 Tweet 0
  • ACEACRES24: Akmodel MD Makes Presentations At The 2Days Event (Photos)

    0 shares
    Share 0 Tweet 0
  • Legends of Nollywood Financial Summit Is Here, Meet The Speakers: Apostle Anselm Madubuko, Mrs. Bukola Agbaminoja, Pst. Moji Bakare Asieru-sweet, Others

    0 shares
    Share 0 Tweet 0

Recent Posts

  • Dangote Refinery’s Fuel Distribution Plan A Boost To CNG Initiative, Says Presidency
  • Fidelity Bank Promotes 12% of Workforce and Increases Salaries by 20% across board
  • Fidelity Bank MD Not Part of the Woobs Case
  • NYSC Sanctions Corps Member Raye Over Criticism of President Tinubu, Sparks Outrage
  • Sanwo-Olu: Akmodel CEO Celebrate A Diamond Leader at 60!
Starlite news icon

Browse by Category

Archives

  • Home
  • About Us
  • Contact Us

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • About Us
  • Business
  • Politics
  • World
  • Entertainment
  • Lifestyle

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

  • https://starlitenews.com.ng/2024/07/12/dangote-refinery-imports-additional-11m-barrels-of-us-crude-oil-due-to-domestic-supply-shortage/
  • https://starlitenews.com.ng/2024/05/19/ecobank-mysme-growth-series-artificial-intelligence-holds-the-key-to-business-development-says-erhabor/
  • https://starlitenews.com.ng/2024/04/16/unijos-students-protest-poor-hostel-health-facilities/
  • https://starlitenews.com.ng/2024/04/18/heritage-banks-head-office-shut-down-over-sack-of-over-1000-staffers/