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Fidelis Ayebae's Fidson Healthcare has closed its N21 billion ($12.9 million) rights issue 117% oversubscribed, receiving N24.65 billion in applications against N21 billion available, validating three decades of building Nigeria's leading indigenous pharmaceutical manufacturer.
Two fresh listings by Fidson Healthcare and Chapel Hill Denham's NREIT injected momentum into a Nigerian Exchange market showing early signs of recovery.
Fidelis Ayebae gains $4.2 million as Fidson Healthcare shares rally on the Nigerian Exchange, lifting the value of his 33.1% stake.
Fidson Healthcare plans a $14.4 million rights issue to expand drug production and sales across Africa after a strong earnings surge.
Fidelis Ayebae’s Fidson stake tops $21 million after a 158% stock rally, driven by growing demand for local drugs.
Fidson Healthcare expands partnership with Japan’s Ohara to boost local drug production, cut reliance on imports, and improve access to affordable medicines.
Ayebae steps down as Fidson CEO after 30 years; firm posts $3.97 million profit and plans $20 million capital raise.
Over the past 30 days, his stake has surged by N3.8 billion ($2.4 million), propelling the market value of his stake above $13 million.
Since the start of the year, his stake has risen by N4.94 billion ($3.08 million), thanks to a steady rally in Fidson’s share price.
The payout reflects the pharmaceutical group’s focus on rewarding investors following an impressive financial performance in 2024.
This growth was driven by a surge in sales of ethical and OTC products, reinforcing Fidson’s position as a top player in Nigeria’s pharmaceutical industry.
The collaboration with NEXIM is expected to position Fidson for a stronger presence in Africa's rapidly expanding pharmaceutical market.
This move aligns with the company’s efforts to bolster Nigeria’s self-sufficiency in healthcare, focusing on combating the country's ongoing HIV crisis.
The deal is part of a broader initiative to enhance self-sufficiency in Africa’s healthcare infrastructure, particularly in the battle against HIV.
The surge in revenue is linked to the heightened sales of ethical products, including infusions, capsules, and tablets.