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Fidelity Bank on nationwide road-show for Public Offer

Category: Public Offers Private Placements


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Fidelity Bank on nationwide road-show for Public Offer

October 10, 2007

 

 

Fidelity Bank Plc, at the weekend, mounted a colourful procession, in a long drawn nationwide road-show to sensitize the populace and give Nigerians from all walks of life an opportunity to join the Fidelity success story.

 

The procession which began at Falomo Roundabout, Ikoyi, Lagos, made an interesting spectacle as the bank’s gigantic Offer symbol was drawn in a magnificent chariot along the ever busy Awolowo Road, Ikoyi down to the Tafawa Balewa Square in Onikan, Lagos.

 

Offering insight into the idea behind the procession, the Managing Director/Chief Executive of the bank Mr. Reginald Ihejiahi explained that it was part of the bank’s strategy to create a mass awareness for the offer by bringing the message to the nooks and crannies of the country through a direct experience.

 

He explained that the previous day, the bank had held a high profile dinner in Lagos for her corporate customers, investors and associates at which the Offer was unveiled. “Naturally, not everybody could attend that particular event. So, this exercise helps in extending the awareness to those who could not be part of the dinner event , he remarked.

 

It is great value for little cost and offers a wonderful opportunity to all Nigerians, regardless of class and status, to lay a good foundation for the future , he stated. 

 

According to him, Fidelity Bank has built an impressive track record of success in its nearly 20 years of existence has made its stake holders happy with an impressive return on their investments.

 

Fidelity Bank’s hybrid Offer of 5, 501, 100, 421 Ordinary Shares of 50k each at N8 per share and Rights Issue of 498, 899, 579 Ordinary Shares of 50k each at N8 per share opened on Thursday to a warm reception from the investing public. The bank seeks to raise N50 billion from the offer to enable it expand its branch network, retool its processes and take its profound expertise to the international stage.

 

The Offer which closes November 9, 2007 has been widely endorsed by prominent Nigerians and leading capital market analysts as a good buy from the opening day.

 



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