FCMB Group successfully raised ₦147.5 billion through its public offer, which was 33% oversubscribed, reflecting strong investor confidence. The funds will help its banking subsidiary, FCMB Ltd., exceed the required ₦240 billion capital base for national banks.
With 42,800 investors, including 39,000 new digital investors, FCMB listed 19.8 billion shares on the Nigerian Exchange Group (NGX) on January 30. This move is part of its larger capital-raising strategy to align with global financial standards.
The development comes as Nigerian banks rush to increase their capital base following new CBN regulations. Zenith Bank recently raised ₦350.4 billion, with its public offer oversubscribed by 60.4%.
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