The Group CEO of the Nigeria Exchange Group (NGX), Temi Popoola, has praised FCMB Group’s digital innovation in its ongoing N110.9 billion public offering, noting that it aligns perfectly with the Exchange’s push for digital transformation.
Popoola emphasized that FCMB’s approach has not only improved the efficiency and accessibility of the public offering but also serves as a prime example of the forward-looking strategies NGX aims to encourage throughout the capital market. He also expressed his support for FCMB’s capital-raising efforts, aimed at strengthening its operational capabilities and fueling its growth plans.
“We have full confidence in FCMB’s vision, and as we embark on this journey with them today as a united capital market community, they will undoubtedly receive the backing they require,” Popoola stated.
Similarly, Jude Chiemeka, CEO of the Nigerian Exchange Limited, expressed confidence in the success of the capital raise. He reiterated the exchange’s commitment to a seamless process and lauded FCMB’s strategic use of digital banking to enhance shareholder value.
FCMB Group began its public offer of 15.197 billion shares at N7.30 per share, totaling N110.9 billion, on July 29, 2024. The offer is set to close on September 4, 2024.
Ladi Balogun, FCMB Group’s Chief Executive, highlighted the bank’s strong performance metrics, including revenue growth and profitability, despite challenging economic conditions.
“Our performance this year underscores FCMB Group’s resilience and adaptability to changing market conditions. It reflects not just our financial success but also our commitment to delivering sustained value to our shareholders and stakeholders,” Balogun remarked.
