Fidson Healthcare Plc will allot all 600 million ordinary shares offered under its N21 billion Rights Issue after the offer closed oversubscribed by 117.3%, with excess applications expected to result in refunds of about N3.65 billion to investors.
The pharmaceutical company disclosed that investors applied for 704.19 million shares valued at N24.65 billion, compared to the 600 million shares valued at N21 billion available under the offer.
This was contained in the basis of allotment approved by the Securities and Exchange Commission (SEC) and obtained by Naijaonpoint.
The Rights Issue comprised 600 million ordinary shares of 50 kobo each offered at N35 per share on the basis of one new share for every four shares held by shareholders whose names appeared on the company’s register as of November 12, 2025.
The allotment document shows that Fidson received 3,249 valid applications for 704.19 million shares valued at N24.65 billion.
As a result, applications for approximately 104.19 million additional shares valued at N3.65 billion were not allotted and are expected to be refunded to affected investors.
Analysis of the allotment schedule indicates that the offer was dominated by large shareholders and institutional investors.
With Fidson shares recently trading around N136.50, the offer price of N35 per share represented a significant discount to the prevailing market price, helping to drive demand for both rights subscriptions and additional shares.
In December 2025, Fidson Healthcare launched the N21 billion Rights Issue as part of a broader strategy to strengthen its capital structure, reduce debt and support expansion plans.
With SEC approval now secured, successful applicants are expected to receive their allotted shares through the Central Securities Clearing System (CSCS), while excess subscription monies estimated at N3.65 billion arising from unallotted additional share applications will be refunded in accordance with the approved basis of allotment.
