FCMB Attracts 42,800 Investors, Raises ₦147.5 Billion in Oversubscribed Public Offer

|By Adejumo Adekunle –

• 33% Oversubscription Shows Investor Confidence
• Digital Channels Drive 92% of Subscriptions
• Capital Boost Secures National Banking License Eligibility

FCMB Group Plc has successfully completed its public offer, securing ₦147.5 billion after a 33% oversubscription. The offer attracted 42,800 investors, with 92% subscribing via digital channels, bringing over 39,000 new shareholders on board.

Regulators approved the absorption of ₦144.6 billion through the issuance of 19.8 billion ordinary shares at ₦7.30 per share, raising the group’s total post-offer issued shares to 39.6 billion. The proceeds have boosted First City Monument Bank Limited’s capital base to over ₦240 billion, surpassing the Central Bank of Nigeria’s minimum requirement for a national banking license.

Subsequent phases of the group’s capital program are underway to ensure FCMB meets international banking license standards, aligning with its vision to become a globally recognized financial services leader of African origin.

Group Chief Executive, Mr. Ladi Balogun, expressed gratitude to investors and regulatory bodies for their support, emphasizing the offer’s success as a sign of confidence in FCMB’s growth strategy. He reaffirmed the group’s commitment to unlocking new opportunities, enhancing shareholder value, and driving economic growth across Nigeria and Africa.