Fidson Secures N30bn Capital Raise, Announces Leadership Transition at AGM

Fidson Healthcare Plc has received shareholder approval to raise N30 billion in capital as part of its strategic drive to expand operations across Nigeria and West Africa.

The approval, granted at the company’s 26th Annual General Meeting, paves the way for a fresh injection of funds via rights issues or other equity-based instruments aimed at enhancing production capacity, driving innovation, and boosting regional market penetration.

Fidson’s Finance Director, Imokha Ayabae, described the move as pivotal to the company’s growth ambitions. “This N30 billion mandate is pivotal for our future. It provides us with the financial agility to pursue strategic initiatives that will not only consolidate our leadership position in Nigeria but also drive our regional ambitions,” he said.

At the meeting, shareholders also approved an increase in the company’s authorised share capital from N1.2 billion to N1.5 billion, through the creation of 600 million additional ordinary shares of 50 kobo each.

A dividend payout of N2.29 billion—equivalent to N1.00 per 50 kobo share—was declared, supported by solid earnings per share of N2.52.

The AGM, held virtually in compliance with the Business Facilitation Act, 2022, also marked a major leadership transition. Founder and CEO, Dr. Fidelis Ayebae, stepped down after 30 years at the helm. Board Chairman, Mr. Segun Adebanji, also retired following the end of his rotation tenure.

Adebanji confirmed that Ayebae’s successor, Biola Adebayo—an executive director of nearly three decades—will assume the role of MD/CEO. His appointment, already ratified by the board, reflects the company’s longstanding commitment to grooming leadership from within.

Reflecting on the transition, Adebanji said, “Dr. Ayebae is leaving behind a strong and visionary leadership bench, led by a capable hand who has been with him on this journey almost from the beginning.”

In his farewell remarks, Ayebae expressed pride in the company’s evolution from a modest start-up in the 1990s to a billion-naira pharmaceutical giant. “As I step down, I do so with immense pride in what we have built together. I am confident that Biola Adebayo will drive continued innovation and growth,” he said.

Fidson officials also highlighted the company’s use of a fully digital AGM platform as a testament to its commitment to corporate transparency and inclusive stakeholder engagement.