Fidson Healthcare Plc is seeking to raise up to N21 billion from existing shareholders as Nigeria’s largest pharmaceutical manufacturer moves to scale up drug production and accelerate its expansion across Africa, riding on a sharp surge in earnings.
The company said it has commenced steps toward a rights issue, subject to final approvals from the Securities and Exchange Commission and the Nigerian Exchange Ltd., offering 600 million new ordinary shares at N35 each. The shares will be issued on the basis of one new share for every four held by shareholders on record as of Nov. 12, 2025.
Proceeds from the offer will be used to expand manufacturing capacity, support product innovation and deepen Fidson’s footprint in new African markets, the company said at a signing ceremony held Friday at its headquarters in Lagos.