FCMB Group Plc has announced plans to raise fresh equity capital to strengthen its financial base and support its regional and international growth agenda.
The company disclosed the move in a notice filed with the Nigerian Exchange and shared with stakeholders and investors.
According to the statement, the decision follows shareholder approval at an Extraordinary General Meeting (EGM) held on December 19, 2024, where the Board of Directors resolved to proceed with an Offer for Subscription. Proceeds from the exercise will be injected as equity into First City Monument Bank Limited.
“FCMB Group Plc hereby notifies NGX Regulation Limited, our stakeholders, and the investing public that, pursuant to the approval granted at the EGM, the Board has resolved to undertake an Offer for Subscription. The initiative is aimed at bolstering the company’s capital structure in line with its regional and international expansion strategy. Funds raised will be channelled into First City Monument Bank Limited as equity,” the statement said.
The board further explained that the offer would be priced at prevailing market rates, with a suitable discount to attract investors. Detailed information on pricing and subscription terms will be released upon receiving approval from the Securities and Exchange Commission (SEC).
The equity raise, the company added, aligns with FCMB’s long-term strategy to consolidate its capital position and accelerate its expansion across Africa and beyond.
