NGSE Lists 586.36m Rights Issue Shares Of Fidson Healthcare

The Nigerian Stock Exchange (NSE), on Monday, July 8, 2019, said it has admitted 586,360,250 ordinary shares on its Daily Official List, in addition to those outstanding in the name of Fidson Healthcare Plc, following its successful rights (READ MORE).
The company had sought N3bn by way of rights through an offer of 750m shares at N4.00 per share on the basis of one new ordinary share for every two ordinary shares held by existing shareholders as at 28 December 2018.
The issue, whose proceed was to pay down 60% of some of its expensive loans, as well as fund working capital needs, the NSE added in the statement by Godstime Iwenekhai, Head, Listings Regulation Department “was 78.18% successful.”
The listing of the additional shares, with effect from Monday, July 1, 2019, increases the total issued and fully paid up shares of Fidson Healthcare from 1.5bn to 2,086,360,250 ordinary shares.