Fidson Targets N3 Billion from Series 11 Commercial PaperFidson Targets N3 Billion from Series 11 Commercial Paper Fidson Healthcare Plc has launched its Series 11 Commercial Paper (CP) program, aiming to raise up to N3 billion. The CP will close on July 23, 2024, and is part of a larger N25 billion Commercial Paper Programme. Positive Stock Market Performance The Nigerian stock market experienced a positive day on Thursday, rising 0.47 percent or N263 billion. Announcements of interim dividends and bonus shares from companies like United Capital Plc contributed to the gains. United Capital Plc saw its share price rise from N36.30 to N39.90, a 9.92% increase. Key Gainers Other notable gainers included Oando (9.76%), Africa Prudential (9.55%), Learn Africa (9.38%), and ABC Transport (9.09%). About Fidson Healthcare Plc Fidson Healthcare Plc is a leading pharmaceutical manufacturer in Nigeria and West Africa. In 2023, the company generated N53.1 billion in turnover, a 31% increase from the previous year. Fidson has a portfolio of over 250 registered pharmaceutical brands in the Nigerian market. Previous Capital Market Transactions Fidson has raised funds through the capital markets in the past, including a N5 billion commercial note in 2023, a N5 billion commercial note in 2023, a N5 billion commercial note in 2023, a N3 billion commercial note in 2022, a N2.15 billion commercial note in 2021, a N4.5 billion commercial note in 2021, a N2.3 billion rights issue in 2019, and a N2.0 billion corporate bond in 2014.
… Fidson targets N3 billion from series 11 Commercial Paper
Nigeria’s stock market remained in negative territory after it rose 0.47 percent or N263 billion on Thursday.
This happens because company announcements such as interim dividends and bonus shares further strengthen investors’ willingness to buy.
As expected, shares of United Capital Plc, which recently proposed an interim dividend of 90 kobo and a bonus of 2 new shares for 1, rose the most on Thursday, from N36.30 to N39.90, an increase of N3.60 or 9.92 percent.
Others on the list of biggest gainers include Oando, which rose from N16.90 to N18.55, up N1.65 or 9.76 percent, and Africa Prudential, which rose from N8.90 to N9.75, up 85 kobo or 9.55 percent.
Also, Learn Africa’s share price rose from N3.52 to N3.85, an increase of 33 kobo or 9.38 percent, while ABC Transport rose from 77 kobo to 84 kobo, an increase of 7 kobo or 9.09 percent.
At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) and market capitalisation of equities rose to 100,503.21 points and N56.908 trillion from the previous day’s lows of 100,032.32 points and N56.645 trillion respectively.
In 9,013 deals, investors traded 392,795,396 shares worth N8.333 billion. GTCO, Veritas Kapital Assurance, FCMB Group, UBA and Cutix were actively traded stocks.
Fidson Healthcare Plc’s Series 11 Commercial Paper (CP) worth up to N3 billion under the N25 billion Commercial Paper Programme has now opened and is expected to close on Tuesday, July 23, 2024.
For the year ended 2023, the company recorded a turnover of N53.1 billion, up 31 percent from the previous year’s N40.6 billion.
Fidson is one of the leading pharmaceutical manufacturing companies in Nigeria. The company is engaged in the manufacturing, marketing and sales of pharmaceutical and healthcare products in Nigeria and West Africa. Fidson currently has over 250 registered pharmaceutical brands, spanning various therapeutic areas, in the Nigerian market.
Fidson Healthcare Plc has accessed funding through the capital markets, issuing a N5 billion 210 and 270-day commercial note in December 2023, N5 billion 181 and 269-day commercial note in November 2023, N5 billion 269-day commercial note in March 2023, N3 billion 270-day commercial note in June 2022, N2.15 billion 90-day commercial note in December 2021, N4.5 billion 270-day commercial note in March 2021, a N2.3 billion rights issue in July 2019 and a N2.0 billion five-year Secured Fixed Rate Corporate Bond in November 2014.
