Fidson Healthcare Plc, Nigeria’s leading pharmaceutical manufacturer, on Friday, December 12,
2025 held a signing ceremony at the Company’s Head Office in Lagos to initiate the
formal launch of its highly anticipated Rights Issue upon receipt of the final regulatory approval
of the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX).
This strategic capital raise aims to generate a gross sum of up to N21 Billion – an injection vital
to consolidating Fidson’s leadership in the industry, providing funds for increased production
capacity and its aggressive pan-African expansion goals. The Issue involves the offering of Six
Hundred Million (600,000,000) New Ordinary Shares of 50 kobo each, priced at N35.00 per
share. The shares are offered to existing shareholders based on one new Ordinary Share for
every four Ordinary Shares held as of the close of business on Wednesday, November 12,
2025, which is the Qualification Date.
This Rights Issue, which builds on a history of strategic capital-raising initiatives, comes at a
time when the company has demonstrated exceptional performance, underscoring the strong
operational execution and robust market position Fidson commands within the Nigerian and
West African pharmaceutical landscape. The nine-month results for the period ended
September 30, 2025, solidify this strength, revealing a significant 132% year-on-year surge in
Profit After Tax (PAT) to reach N7.97 billion. This outstanding bottom-line growth was
underpinned by a 56% increase in Revenue, which reached N93.08 billion, reflecting robust
demand and expanded market reach. Furthermore, effective cost management saw Operating
Profit rise by an impressive 92% to N16.95 billion, demonstrating significant operational
leverage and efficiency gains.
The N21 billion capital infusion is specifically targeted at increasing manufacturing capacity,
driving product innovation and expanding market penetration across new territories.
Speaking at the signing ceremony, the Managing Director/CEO of Fidson Healthcare Plc, Mr.
Biola Adebayo stated, “The successful formalization of this N21 billion Rights Issue marks a
critical milestone for Fidson. This capital will cement our position as the foremost healthcare
company in Nigeria and a dominant player across Africa. Our exceptional performance this year
has demonstrated our ability to thrive and innovate, and this successful offer assures us we can
accelerate our growth trajectory and create sustainable, long-term value for all our
stakeholders.”
The Finance Director, Mr. Imokha Ayebae, in his remarks highlighted the company’s impressive
milestones in the capital market and explained the financial necessity and structure of the Issue.
“This Rights Issue has been meticulously structured to be financially compelling and viable for
our loyal investors. The proceeds will be deployed judiciously to optimize our
operations, including technology upgrades and expansion of our product lines.
Eligible shareholders are strongly encouraged to exercise their provisional rights during the
period.”
- Mr. Imokha Ayebae
Michael Nzewi, the CEO of CardinalStone Partners Limited, Lead Issuing house for the Rights
Issue spoke about the equity capital raising journey of the company and indicated that its last
offering in 2019 was at N4.50 compared to the current offer price of N35 which is a discount to
current market price is a testament to the growth trajectory of the Company’s stock and the
attractiveness of holding Fidson shares in an investment portfolio.
Shareholders whose names appear on the register as of the Qualification Date are urged to
complete the Official Participation Form and lodge it, along with full payment, with their
Stockbroker or any Receiving Agent listed in the Rights Circular before the closing date.
Fidson’s drive toward excellence in pharmaceutical manufacturing remains unwavering. We are
committed to delivering value to our stakeholders, empowering our workforce, and driving
innovation.
