By DAYO ADESULU
Strong Investor Confidence as Offer Raises ₦147.5 Billion
Lagos, Nigeria – FCMB Group Plc has successfully listed 19.8 billion shares on the Nigerian Exchange Group (NGX) following a 33% oversubscribed public offer, reflecting robust investor confidence in the financial institution.
Key Highlights of the Listing
✅ Offer Oversubscription: The public offer, priced at ₦7.30 per share, attracted 42,800 investors and raised ₦147.5 billion.
✅ Digital-Driven Investment: A remarkable 92% of subscriptions came through digital channels, adding 39,000 new investors to FCMB Group’s registry.
✅ Regulatory Approval Secured: The listing was finalized on January 30 after verification and approval by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).
Strengthening FCMB’s Capital Base
FCMB Group CEO, Ladi Balogun, described the capital raise as a critical milestone in the company’s expansion strategy. The proceeds will:
📌 Boost First City Monument Bank Ltd.’s capital base to over ₦240 billion, surpassing the national banking license requirement.
📌 Support the bank’s expansion efforts while ensuring compliance with international banking license standards.
📌 Increase FCMB Group’s total issued shares to 39.6 billion, reinforcing its market position.
What’s Next for FCMB Group?
FCMB is currently in phases two and three of its capital raising program, aligning with its vision to become a leading global financial services provider of African origin.
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