FCMB Group Plc has announced plans to raise fresh equity capital through an Offer for Subscription as part of its growth and expansion strategy.
The decision was approved by the company’s Board of Directors, acting on the mandate granted by shareholders at an Extraordinary General Meeting held on December 19, 2024.
According to the announcement, the move is aimed at strengthening the company’s capital base ahead of its focused regional and international expansion plans. Proceeds from the offer will be injected as equity into First City Monument Bank Limited, the banking subsidiary of FCMB Group.
The Board noted that the Offer will be launched based on prevailing market prices, while ensuring that investors enjoy a reasonable discount on the subscription price.
Further details of the capital raise will be made public once approval is secured from the Securities and Exchange Commission (SEC).
The notice was signed by Olufunmilayo Adedibu, Company Secretary of FCMB Group Plc.
