FCMB Group announced plans to raise N110 billion by issuing new ordinary shares at N7.30 each on the Nigerian Exchange Limited (NGX). Group Chief Executive Ladi Balogun described the offer as a “compelling investment opportunity.”
He highlighted FCMB’s strong growth, digital business model, and commitment to financial inclusion and sustainable economic growth.
Balogun detailed that the share offer is priced slightly below the market rate. Alongside this public offering, FCMB will also conduct a private placement worth $40 to $50 million, convertible into shares next year.
They plan to further raise between N80 to N90 billion in 2025 by selling minority stakes in their pensions business and Credit Direct.
The Nigerian Exchange Group (NGX) applauded FCMB’s initiative and its focus on technological and digital advancements. NGX’s Group Managing Director/CEO, Temi Popoola, expressed full support for FCMB’s capital-raising efforts.