CardinalStone has announced the successful completion of a ₦21 billion rights issue for Fidson Healthcare Plc, marking a significant milestone in the company’s capital-raising efforts in Nigeria.

The transaction is expected to strengthen Fidson’s balance sheet, support expansion plans, and improve working capital for its pharmaceutical manufacturing and distribution operations.

According to market updates, the rights issue was fully subscribed, reflecting investor confidence in Fidson’s long-term growth strategy and positioning within Nigeria’s healthcare sector.

CardinalStone, which acted as the issuing house, said the exercise demonstrates continued investor appetite for fundamentally strong companies despite broader macroeconomic pressures.

Industry analysts say the successful raise could help Fidson scale production capacity, reduce import dependence, and expand access to essential medicines across the region.

The development comes as listed companies on the Nigerian Exchange continue to explore equity financing options to support growth and navigate challenging economic conditions.

Stakeholders view the transaction as another positive signal for capital market activity in Nigeria.