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Nigerian pharmaceutical tycoon Fidelis Ayebae, founder and chairman of Fidson Healthcare Plc, has gained $4.2 million from the company’s shares listed on the Nigerian Exchange (NGX). Ayebae holds a 33.1 percent stake in Fidson, equivalent to 759.6 million shares.
Fidson rally lifts Ayebae stake
Since mid-December, the value of that holding has climbed from N30.39 billion ($20.99 million) to N36.46 billion ($25.19 million), a gain of N6.08 billion ($4.2 million), reflecting a sharp increase in Fidson’s share price over the period.
The latest surge adds to earlier gains recorded by Ayebae this year. From Jan. 1 to Nov. 10, the value of his stake rose by $12.95 million, from N11.77 billion ($8.2 million) to N30.39 billion ($21.15 million), reflecting steady investor interest.
Market cap of Fidelis Ayebae’s Fidson soars above $70 million
Fidson, founded in 1995 by Ayebae as an importer of medicines for Nigerian hospitals and pharmacies, opened its first local manufacturing facility in 2002. The move shifted the company from trading to domestic production and enabled it to become the first Nigerian firm to produce antiretroviral drugs in 2005, supporting national HIV treatment programs.
Today, Fidson produces a wide range of prescription and over-the-counter medicines and remains a significant player in Nigeria’s pharmaceutical sector. The recent rally has lifted its shares 20 percent since Dec. 15, from N40 ($0.0277) to N48 ($0.0332), propelling the company’s market capitalization above $70 million.
Shares up 210 percent YTD
Year-to-date, Fidson shares have surged 210 percent, meaning a $100,000 investment at the start of the year would now be worth $310,000. For Ayebae, the rise highlights the long-term benefits of investing in capacity and the sustained value that consistent execution brings.
