The CEO of Nigeria Exchange Group (NGX), Temi Popoola, praised FCMB Group for its innovative approach to digital transformation, which has been showcased in their ongoing public offer of N110.9 billion. He noted that this digital strategy aligns perfectly with the NGX’s own push towards modernization. Popoola highlighted that FCMB’s method not only made the public offer more efficient and accessible but also serves as an example of the forward-looking strategies that the NGX encourages within the capital market. He expressed his full support for FCMB’s capital-raising efforts, which are designed to strengthen the bank’s operations and fuel its growth.
Popoola confidently stated, “We are certain that FCMB’s story is strong, and as we begin this journey with them today, they will receive the support they need from the entire capital market community.”
In addition, Jude Chiemeka, the CEO of the Nigerian Exchange Limited, shared his positive outlook on FCMB’s capital raise. He reiterated the exchange’s commitment to ensuring a smooth process and pointed out FCMB’s strategic use of digital banking services as a key factor in enhancing value for shareholders.
FCMB Group began its public offer of 15.197 billion shares, priced at N7.30 each, totaling N110.9 billion on July 29, 2024. The offer is set to close on September 4, 2024.
Despite facing economic challenges, FCMB Group’s Chief Executive, Ladi Balogun, stated that the bank has maintained strong financial performance, including growth in revenue and profitability. He emphasized that this year’s success is a testament to FCMB Group’s resilience and adaptability to changing market conditions. Balogun also underscored the bank’s dedication to delivering long-term value to its shareholders and stakeholders.
