Fidson Healthcare Plc will allot all 600 million ordinary shares offered under its N21 billion Rights Issue after the offer closed oversubscribed by 117.3 per cent.

The company disclosed that investors applied for 704.19 million shares valued at N24.65 billion, exceeding the 600 million shares worth N21 billion initially offered.

Details of the allotment were contained in documents approved by the Securities and Exchange Commission.

The Rights Issue involved 600 million ordinary shares of 50 kobo each offered at N35 per share on the basis of one new share for every four shares held by shareholders listed on the company’s register as of November 12, 2025.

According to the allotment schedule, Fidson received 3,249 valid applications for 704.19 million shares valued at N24.65 billion.

Despite the strong subscription level, only 600 million shares were available for allotment, resulting in an oversubscription rate of 117.3 per cent.

The company disclosed that 3,225 shareholders fully accepted their rights amounting to 217.75 million shares valued at N7.62 billion.

Another 11 shareholders partially accepted their rights representing 168,769 shares.

The allotment report also showed that 13 shareholders traded rights relating to 334.19 million shares valued at N11.7 billion on the floor of the Nigerian Exchange during the offer period.

A total of 47.89 million shares were renounced by shareholders, creating additional shares available for redistribution.

To secure additional allotments, 2,201 investors applied for 152.08 million shares worth N5.32 billion beyond their original entitlements.

However, with only 47.89 million renounced shares available, the company allotted additional shares on a pro-rata basis of 31.5 per cent.

As a result, applications for approximately 104.19 million additional shares valued at N3.65 billion were not allotted and will be refunded to affected investors.

Analysis of the allotment structure showed that institutional investors and major shareholders dominated the capital raising exercise.

The two shareholders in the category of 100 million shares and above received a combined allotment of 331.74 million shares, representing about 55 per cent of the total offer.

Similarly, eight investors within the 10 million to 50 million shares category received 153.78 million shares, accounting for approximately 26 per cent of total shares allotted.

Combined, both categories controlled more than 80 per cent of the total allotment.

Retail investors accounted for a larger number of applications but received smaller allocations.

The largest shareholder category by number consisted of 1,394 investors holding between one and 1,000 shares, but the group collectively received only 492,055 shares, representing less than one per cent of total allotments.

Fidson shares recently traded around N136.50 on the Nigerian Exchange, placing the Rights Issue price of N35 per share at a significant discount to the prevailing market price and contributing to strong investor demand.