Fidson Healthcare Plc, one of Nigerias top pharmaceutical companies founded by Fidelis Ayebae, plans to raise up to N21 billion 14.4 million from existing shareholders to expand production and increase sales across Africa, after reporting a sharp increase in earnings.
The company said it has begun the process for a rights issue, pending approvals from the Securities and Exchange Commission and Nigerian Exchange. The company will offer 600 million new ordinary shares at N35 0.02 each, on a one-for-four basis for shareholders. Proceeds will fund manufacturing expansion, new products and entry into new African markets.
Earnings surge backs capital raise
