Fidson Healthcare Plc, Nigeria’s leading pharmaceutical manufacturer, has formally launched its highly anticipated Rights Issue, following the receipt of final regulatory approvals from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX). The signing ceremony, held on Friday, December 12, 2025, at the company’s head office in Lagos, marks a major milestone in Fidson’s growth strategy. The Rights Issue is expected to raise up to N21 billion in gross proceeds, providing fresh capital to strengthen production capacity, drive product innovation and accelerate the company’s pan-African expansion plans.
Under the offer, Fidson is issuing 600 million new ordinary shares of 50 kobo each at N35 per share. The shares are being offered to existing shareholders on the basis of one new ordinary share for every four ordinary shares held as of the close of business on November 12, 2025, which serves as the qualification date. The capital raise comes on the back of a strong financial performance that underscores Fidson’s growing dominance in the Nigerian and West African pharmaceutical markets. For the nine months ended September 30, 2025, the company recorded a 132 per cent year-on-year increase in profit after tax to N7.97 billion. Revenue rose by 56 per cent to N93.08 billion, driven by robust demand and wider market reach, while operating profit surged 92 per cent to N16.95 billion, reflecting improved efficiency and cost discipline.
Speaking at the event, Managing Director and Chief Executive Officer, Mr. Biola Adebayo, described the Rights Issue as a pivotal step in Fidson’s long-term growth journey. “The successful formalisation of this N21 billion Rights Issue marks a critical milestone for Fidson. This capital will cement our position as the foremost healthcare company in Nigeria and a dominant player across Africa,” he said, adding that the company’s recent performance demonstrates its capacity to innovate and deliver sustainable value.
Finance Director, Mr. Imokha Ayebae, said the offer was deliberately structured to be attractive and accessible to existing investors. He noted that proceeds would be deployed judiciously to optimise operations, upgrade technology and expand product lines, urging eligible shareholders to exercise their rights within the offer period.
Also speaking, Chief Executive Officer of CardinalStone Partners Limited, the lead issuing house, Mr. Michael Nzewi, highlighted Fidson’s equity market journey. He pointed out that the company’s last capital raise in 2019 was priced at N4.50 per share, compared with the current offer price of N35, which still represents a discount to the prevailing market price. According to him, this reflects the strong growth trajectory of Fidson’s stock and its appeal to long-term investors. Shareholders listed on the register as of the qualification date are advised to complete the official participation form and submit it, along with full payment, to their stockbrokers or designated receiving agents before the closing date. With the Rights Issue, Fidson reaffirmed its commitment to strengthening pharmaceutical manufacturing in Nigeria, creating value for shareholders and advancing innovation across the healthcare value chain.
