Fidson Healthcare Plc, one of Nigeria’s leading pharmaceutical manufacturers, officially launched its highly anticipated Rights Issue on Friday, December 12, 2025, at its Head Office in Lagos. The move follows final regulatory approvals from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX) and marks a strategic step in the company’s growth agenda.
N21 Billion Capital Raise to Strengthen Market Leadership
The Rights Issue seeks to raise a gross sum of up to N21 billion through the offering of 600 million new ordinary shares, each valued at N35.00. Existing shareholders are entitled to participate at a ratio of one new share for every four ordinary shares held as of Wednesday, November 12, 2025, the Qualification Date.
The capital raise is aimed at consolidating Fidson’s leadership in Nigeria’s pharmaceutical sector, enhancing manufacturing capacity, accelerating product innovation, and supporting its ambitious pan-African expansion plans.
Strong Financial Performance Underpins Rights Issue
The launch comes on the back of a remarkable nine-month performance for the period ended September 30, 2025. Fidson reported a 132% year-on-year increase in Profit After Tax (PAT) to N7.97 billion, driven by a 56% rise in revenue to N93.08 billion. Operating profit also surged 92% to N16.95 billion, reflecting robust cost management and operational efficiency.
These results underscore Fidson’s growing market influence in Nigeria and across West Africa, and the Rights Issue is positioned to further strengthen the company’s competitive advantage.
Management Highlights Strategic Importance
Speaking at the signing ceremony, Managing Director and CEO, Biola Adebayo, described the Rights Issue as a “critical milestone” for the company.
"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," Adebayo stated.
Finance Director Imokha Ayebae emphasized the financial structure and benefits of the Rights Issue to shareholders.
"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," he said.
Shareholder Participation and Investment Appeal
Caption L-R: Mr. Imokha Ayebae, Finance Director, Fidson Healthcare Plc; Ms. Onyebuchim Obiyemi, Director Investment Banking, CardinalStone; Dr. Fidelis Ayebae, Chairman, Fidson Healthcare Plc; Biola Adebayo, MD/CEO, Fidson Healthcare Plc; Michael Nzewi, the CEO of CardinalStone Partners Limited at the Signing Ceremony of Fidson Right Issue, December 12, 2025 in Lagos.
Michael Nzewi, CEO of CardinalStone Partners Limited, the Lead Issuing House, highlighted the attractiveness of Fidson’s current share offering. He noted that the last equity offer in 2019 was priced at N4.50, while the current offer at N35 represents a significant premium and a discount to the prevailing market price, reflecting the company’s robust growth trajectory.
Shareholders listed on the register as of the Qualification Date are urged to complete the Official Participation Form and submit it, along with full payment, through their stockbroker or any Receiving Agent specified in the Rights Circular before the closing date.
Commitment to Excellence and Innovation
Fidson Healthcare’s Rights Issue underscores its ongoing commitment to excellence in pharmaceutical manufacturing, stakeholder value creation, workforce empowerment, and innovation. The capital raise is set to position the company for long-term growth and increased presence in both local and African markets.