Rights Issue: Japanese Firm Raises Stake In Fidson Healthcare To 21.57%

The board of Fidson Healthcare Plc, at the weekend, announced a strategic alliance with Japanese firm- Ohara Pharmaceutical Co Ltd, a major player in the Asian pharmaceutical market focusing on the businesses of orphan drugs and genetic drugs.
The alliance, the company said in a statement to stakeholders through the Nigerian Stock Exchange (NSE), resulted in an increase in Ohara’s shareholding in Fidson to 21.57% during the recently concluded rights issue (READ MORE).
The deal, the company explained, “is aimed at supporting Fidson in fulfilling its commitment to provide the Nigerian market with the latest healthcare products and services.
Ohara is expected to bring on board “cutting edge technology and innovation through technology transfer, expertise and knowledge sharing to enhance Fidson’s excellence and ascendency in the Nigerian pharma space.”
The statement by Yomi Adebanjo, its company secretary, envisaged that the alliance will be a significant growth driver for both companies, becoming a major factor for the development of pharmaceutical manufacturing in Nigeria.
Explaining reasons for the collaboration, it explained, Fidson added given Nigeria’s growing population, there “is an urgent need of a rapid improvement in the standard of healthcare delivery.”
Such improvement, it stressed, “can only be accelerated through modernization and technological intervention which the alliance with Ohara aims to deliver.”
Meanwhile, as at December 31, 2018, and prior to the conclusion of the rights issue, shareholders with substantial interest in the company was listed as Dr. Fidelis Ayebae, the founding chief executive, 35%; Stanbic IBTC Nominee Ltd, 14%; Cardinal Stone partners Ltd/HNI, 7%; Cardinal Stone Partners Ltd/PMS, 5%.