By Chioma Obinna

Fidson Healthcare Plc, Nigeria’s leading pharmaceutical manufacturer, has opened its N21 billion Rights Issue, riding on the back of a stellar financial performance that saw profits surge by 132 per cent year-on-year.
The Rights Issue was unveiled in Lagos at a signing ceremony held at the company’s head office, signalling the commencement of the offer, subject to final regulatory approval from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX).

The offer involves the issuance of 600 million new ordinary shares of 50 kobo each at N35 per share, to be offered to existing shareholders on the basis of one new ordinary share for every four ordinary shares held as at the close of business on Wednesday, November 12, 2025, which is the qualification date.

The capital raise is expected to generate gross proceeds of up to N21 billion, which Fidson said will be deployed to expand manufacturing capacity, drive product innovation and support its aggressive expansion across Africa.

The Rights Issue comes at a time of strong operational momentum for the pharmaceutical firm. For the nine-month period ended September 30, 2025, Fidson recorded a 132 per cent increase in Profit After Tax to N7.97 billion, compared with the corresponding period of the previous year. Revenue rose by 56 per cent to N93.08 billion, reflecting robust demand for the company’s products and an expanded market reach. Operating profit also climbed by 92 per cent to N16.95 billion, underscoring improved efficiency and scale.

Speaking at the ceremony, the Managing Director and Chief Executive Officer, Mr. Biola Adebayo, said the Rights Issue represents a major milestone in Fidson’s growth journey.
“The formal opening of this N21 billion Rights Issue marks a critical milestone for Fidson,” Adebayo said. “The funds will further strengthen our position as Nigeria’s foremost healthcare company and accelerate our emergence as a dominant player across Africa. Our performance this year demonstrates our resilience and capacity to grow, and this capital will enable us to create sustainable long-term value for our stakeholders.”

Also speaking, the Finance Director, Mr. Imokha Ayebae, said the offer was carefully structured to be attractive to existing investors while supporting the company’s long-term strategy.

“This Rights Issue has been meticulously structured to be financially compelling for our shareholders,. The proceeds will be deployed judiciously to optimise operations, including technology upgrades and expansion of our product lines. We encourage eligible shareholders to exercise their provisional rights during the offer period, Ayebae said.
The Lead Issuing House, CardinalStone Partners Limited, highlighted Fidson’s strong track record in the capital market.

The Chief Executive Officer, Mr. Michael Nzewi, noted that the company’s previous equity offering 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 Nzewi, the pricing reflects the company’s sustained growth trajectory and reinforces the attractiveness of Fidson shares as a long-term investment.

Shareholders whose names appear on the register as at the qualification date are advised to complete the Official Participation Form and submit it, along with full payment, through their stockbrokers or any of the designated receiving agents listed in the Rights Circular before the closing date.
Fidson said it remains committed to strengthening pharmaceutical manufacturing in Nigeria, driving innovation, empowering its workforce and delivering sustained value to shareholders as it enters its next phase of growth.