Nigeria, Feb. 8 -- Fidelity Bank Plc has revealed the outcome of its recent public offer to raise capital through the subscription of 10 billion ordinary shares at N9.75 per share.

The offer saw an overwhelming response, with subscriptions reaching 237.92% of the initial offering.

According to the bank's summary, it received 108,046 applications for a total of 23,791,687,463 ordinary shares, amounting to N231.968 billion. Following the Central Bank of Nigeria's (CBN) Capital Verification Exercise (CVE), 107,588 applications, representing 23,768,724,000 ordinary shares valued at N231.745 billion, were confirmed as valid.

No applications were rejected post-CBN verification. However, 458 applications totaling 22,765,143 shares, worth N221...