FCMB Group Plc has announced plans to raise equity capital in order to strengthen its financial position and support its regional and international growth ambitions.

The company disclosed the plan in a filing with the Nigerian Exchange, noting that the move follows approval granted by shareholders at an Extraordinary General Meeting held on December 19, 2024.

According to FCMB, its Board of Directors has resolved to embark on an Offer for Subscription, with proceeds to be injected as equity into First City Monument Bank Limited.

“The Offer is being undertaken in line with the Group’s strategic vision to consolidate its capital base in preparation for focused regional and international expansion,” the company said.

The board also confirmed that the offer will be priced based on prevailing market conditions, while ensuring an appropriate discount for investors. Final pricing and subscription details will be disclosed once approval is obtained from the Securities and Exchange Commission.

The capital raise is part of FCMB’s broader plan to reinforce its balance sheet and position itself for greater competitiveness across African and global markets.