Image Credit: FSDH Capital

March 7, 2023/FSDH Capital

The upcoming launch of Fidson Healthcare Plc (“Fidson” or the “Company”) Series 4 Commercial Paper (“CP”) of up to ₦3.5 Billion under its ₦10 billion CP Programme (the “Programme”) that is Coming Soon.

Fidson is one of the leading pharmaceutical manufacturing companies in Nigeria. The Company is engaged in the manufacturing, marketing, and sales of pharmaceutical and healthcare products in Nigeria and West Africa. Fidson currently has over 250 duly registered pharmaceutical brands, across different therapeutic areas, in the Nigerian market. The Company recorded ₦40.9 Billion in full-year Sales in its December 2022 financial statements, a 32% increase over ₦30.9 Billion recorded in the previous year.  Fidson declared a ₦4.14 Billion profit after tax in its Q4 2022 unaudited statement showing an 11.17% increase from the previous year.

Fidson has previously accessed funding through the Capital markets, having issued a ₦3 Billion 270- day Commercial paper in June 2022, ₦2.15 Billion 90-day Commercial Paper in December 2021,  ₦4.5 Billion 270-day Commercial Paper in March 2021, a ₦2.3 Billion Rights Issue in July 2019, and a ₦2.0 Billion five-year Secured Fixed Rate Corporate Bond in November 2014.

Please see below the indicative terms of the proposed offer: