NGX’s boss backs FCMB’s N110.9bn capital raise
The Group CEO (GCEO) of the Nigerian Exchange Group (NGX), Temi Popoola, has commended the FCMB Group and expressed support for its capital raise of N110.9 billion through public offer. He also acknowledged the digital innovations which the group has developed around its public offer and how such initiatives are aligned with the digital transformation […]
CEO of NGX, Jude Chiemeka
The Group CEO (GCEO) of the Nigerian Exchange Group (NGX), Temi Popoola, has commended the FCMB Group and expressed support for its capital raise of N110.9 billion through public offer.
He also acknowledged the digital innovations which the group has developed around its public offer and how such initiatives are aligned with the digital transformation drive of the NGX.
He said, “We have no doubt whatsoever that it is a strong story and as we start this journey with FCMB today as an entire capital market community, they will find the support that they need. I wish FCMB all the best.
Similarly, the CEO of NGX, Jude Chiemeka, expressed optimism about FCMB’s capital raise, highlighting the exchange’s commitment to facilitating a seamless process.
At the Facts Behind the Offer (FBO) session, the group unveiled its plan to raise N110.9bn.
The group commenced its public offer of 15.197 billion shares at N7.30 per share, amounting to N110.9bn on July 29, 2024, and it is expected to close on September 4, 2024.
During the session, the FCMB Group, led by its GCEO, Ladi Balogun, presented compelling evidence of the group’s resilience, operational strength and financial performance.
Balogun said despite ongoing economic uncertainties and market fluctuations, FCMB Group had sustained robust growth and demonstrated exceptional resilience.
He said, “Our performance this year is a reflection of FCMB Group’s resilience and our ability to adapt to changing market conditions. Today’s presentation at the Nigerian Exchange highlights not just our financial achievements but also our commitment to delivering long-term value to our shareholders and stakeholders.”