Fidelity Bank Plc has announced the outcome of its private placement of 14.8 billion ordinary shares at N17.50 per share, confirming that 12.97 billion shares were successfully allotted following regulatory verification.
In a disclosure, the bank stated that after the capital verification exercise conducted by the Central Bank of Nigeria (CBN), the final allotment amounted to N227.05 billion. This represents 87.7 per cent of the total offer size.
The bank had initially received 20 applications for 16.78 billion shares, reflecting an oversubscription level of 113.4 per cent before the CBN’s verification process. However, the regulatory review adjusted the final number of verified and allotted shares downward.
Details of the allocation indicate strong participation from high-net-worth and institutional investors. The highest application band—subscriptions above 2 billion shares—accounted for a significant proportion of the total allotment value, underscoring the dominance of large-ticket investors in the exercise.
Fidelity Bank confirmed that refunds for unsuccessful or unverified applications were processed by April 27, 2026. Successful allottees are expected to receive their shares in their CSCS accounts by April 30, 2026.
The bank noted that the entire allotment process and the basis of allocation were reviewed and cleared by the Securities and Exchange Commission (SEC), affirming compliance with regulatory requirements.
The private placement forms part of Fidelity Bank’s broader strategy to meet the CBN’s new minimum capital requirement of N500 billion for commercial banks with international authorisation.
On June 18, 2025, the lender disclosed that it had successfully raised N273 billion through a Public Offer and Rights Issue and planned to raise an additional N200 billion through a private placement during the 2025 financial year.
Subsequently, in a January 6, 2026 disclosure on the Nigerian Exchange Limited (NGX), the bank announced the opening and closing of the private placement earlier declared on December 31, 2025.
At the time, the exercise reportedly raised N259 billion and increased the bank’s eligible capital from N305.5 billion to N564.5 billion, pending regulatory approval.
As of September 30, 2025, Fidelity Bank’s share capital and share premium stood at N305.555 billion, according to its nine-month financial statement.
