Home » Nigerian pharma tycoon Fidelis Ayebae’s stake in Fidson is now worth $14.8 million

Nigerian pharma tycoon Fidelis Ayebae’s stake in Fidson is now worth $14.8 million

by Omokolade Ajayi
Fidelis Ayebae

Fidelis Ayebae, a Nigerian multimillionaire businessman and pharma tycoon, has solidified his status as one of the wealthiest investors on the Nigerian Exchange with a stake worth over $14 million in Fidson Healthcare Plc.

Ayebae’s significant ownership in the pharmaceutical company, which he helped transform into a leading player in the Nigerian and West African markets, has garnered attention as the company’s market capitalization reached N35.6 billion ($44.9 million).

Fidson Healthcare, established more than 27 years ago, has flourished under the astute leadership of Ayebae, who transitioned from a renowned banker to an accomplished industrialist. Presently, Ayebae holds an impressive 33.1-percent stake in Fidson Healthcare, owning a total of 759,643,749 ordinary shares.

At the time of reporting, the shares of Fidson Healthcare were valued at N15.5 ($0.0195), which elevated the market value of Ayebae’s stake to N11.7 billion ($14.8 million).

The surge in Ayebae’s wealth comes amidst favorable market conditions for Fidson Healthcare, reflecting the company’s steady growth in recent years.

Fidson Healthcare’s transformative journey began as a local pharmaceutical products distributor, but under the visionary leadership of Ayebae, it has expanded its operations significantly. The company established its first local manufacturing facility in 2002 and became the first firm in the region to produce Antiretroviral (ARVs) drugs in March 2005.

Presently, Fidson operates four state-of-the-art manufacturing facilities in Nigeria, focusing on an extensive range of medical conditions, including infectious, inflammatory, endocrinal, gastrointestinal, immune, metabolic, cardiovascular, oncological, and central nervous system disorders.

Under Fidelis Ayebae’s guidance, Fidson Healthcare has achieved exceptional financial growth, reporting a significant increase in profits for the 2022 fiscal year.

The company’s profits surged by double digits, rising from N3.72 billion ($8.08 million) to N4.18 billion ($9.08 million).

As a result of this remarkable performance, Fidson Healthcare’s total assets have grown to N42.98 billion ($93.3 million), and its retained earnings have experienced a substantial surge from N7.77 billion ($16.9 million) to N10.94 billion ($23.76 million).

With Ayebae’s visionary leadership and strategic investments, Fidson Healthcare continues to solidify its position as a dominant player in the Nigerian and West African pharmaceutical industries. As the market conditions remain favorable, the company’s prospects for further growth and success appear promising.

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