Digital Excellence In N110.9bn Public Offer: Popoola Commends FCMB

Digital Excellence In N110.9bn Public Offer: Popoola Commends FCMB

The Group CEO of Nigeria Exchange Group (NGX), Temi Popoola, has said that the digital innovation adopted by FCMB Group in its ongoing N110.9 billion public offer aligned with the digital transformation drive of the Exchange.

Popoola said that FCMB’s approach not only enhanced the efficiency and accessibility of the public offer but also exemplifies the kind of forward-thinking strategies that the NGX seeks to promote across the capital market. This is even as he declared support for the Group’s capital raise aimed at bolstering its operational capacity and supporting its growth initiatives.

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.”

Also, the Chief Executive Officer of the Nigerian Exchange Limited, Jude Chiemeka, expressed optimism about the capital raise, reiterating the exchange’s dedication to ensuring a smooth process and highlighting FCMB’s strategic use of digital banking services to enhance shareholder value.

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.

Meanwhile, FCMB Group Chief Executive, Ladi Balogun, stated that despite challenging economic conditions, the bank has maintained strong performance metrics, including revenue growth and profitability.

According to him, “Our performance this year is a reflection of FCMB Group’s resilience and our ability to adapt to changing market conditions. This highlights not just our financial achievements but also our commitment to delivering long-term value to our shareholders and stakeholders.