Fidson Healthcare Opens N3 Billion Rights Situation March – THISDAY Newspapers

Goddy Egene

Fidson Healthcare Plc will start searching for N3 billion from present shareholders from March 6, 2019. The healthcare agency would offer 750 million shares of 50 kobo every at N4.00 per share to present shareholders on the premise of 1 new share for each two shares already held. The corporate had deliberate to lift N4.5 billion by the issuance of 900 million shares at N5.00 per share on the premise of three shares for each 5 shares already held.

Nonetheless, the corporate obtained the approval of Securities and Trade Fee (SEC) to cut back the dimensions of the problem to 750 million peculiar shares of 50 kobo every at N4.00 per share on the premise of 1 new peculiar share for each two peculiar shares held as at Friday, December 28, 2018.

In notification to the market operators yesterday, the Nigerian Inventory Trade (NSE) stated the rights situation will open on March 6 and shut on April 9, 2019.

Shareholders of Fidson Healthcare had in 2017 authorised a plan by the corporate to lift N6 billion in new capital to spice up its working capital and help its enlargement plan.

The shareholders had additionally elevated the authorised share capital of the corporate from N1.2 billion to N1.5 billion by the creation of further 600 million shares of 50 kobo every. In line with the corporate, the brand new capital can be used to spice up working capital that had been negatively impacted by the depreciation of Naira.

The corporate had additionally defined that its new manufacturing unit that got here on stream on the tail finish of 2016 wanted further capital to grasp the complete potential and utilise the brand new manufacturing unit to full capability.

Fidson Healthcare had recorded improved efficiency for the 2017 monetary yr as income grew by 84 per cent to N14 billion, from N7.6 billion in 2017. Revenue earlier than tax rose from N443 million in 2016 to N1.57 billion in 2017.

Therefore, the board of administrators of Fidson Healthcare beneficial a dividend of 20 kobo per share, which was 300 per cent increased than 5 kobo that paid the earlier yr.

In the meantime, buying and selling on the inventory sustained its optimistic pattern because the NSE All-Share Index rose 0.64 per cent to shut at 32,614.05, whereas market capitalisation added N77.5 billion to be at N12.2 trillion. Additionally exercise strengthened as quantity and worth traded superior 22.four per cent and 35.6 per cent to 442.8m models and N5.6bn respectively.

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