FCMB Group Plc has successfully listed 19.8 billion shares on the Nigerian Exchange Group (NGX) following an oversubscribed public offer that attracted strong investor confidence. The offer, priced at N7.30 per share, raised N147.5 billion and was 33% oversubscribed, reflecting high demand from investors.
Strong Digital Participation and Regulatory Approval
The public offer saw participation from 42,800 investors, with 92% of subscriptions completed through digital channels, adding 39,000 new shareholders to FCMB Group’s registry. The listing, which was finalized on January 30, 2025, received capital verification and approval from both the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).
Boosting Capital Base and Expansion Plans
FCMB Group CEO, Ladi Balogun, emphasized that the successful capital raise strengthens the financial position of First City Monument Bank Ltd., the company’s banking subsidiary. The proceeds have increased the bank’s capital base to over N240 billion, exceeding the requirement for a national banking license and reinforcing its pursuit of maintaining an international banking license.
Commitment to Growth and International Standards
With the listing, FCMB Group’s total issued shares have now risen to 39.6 billion. The company remains committed to phases two and three of its ongoing capital-raising program, positioning itself to meet international capital standards and drive future expansion.
This move aligns with FCMB Group’s long-term vision of becoming a leading global financial services institution of African origin, leveraging strong investor confidence to fuel its growth strategy.
