Nigerian tycoon Fidelis Ayebae loses over $1 million from Fidson stake

Nigerian multimillionaire businessman and pharma tycoon Fidelis Ayebae, renowned for his success in the pharmaceutical industry, has recently seen a decline of more than $1 million in the value of his stake in Fidson Healthcare Plc.

According to the data tracked by Billionaires.Africa, the market value of Ayebae’s stake in the pharmaceutical company has decreased by N877.59 million ($1.13 million) since July 25, as investors on the local bourse trim down their stakes in Fidson Healthcare.

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.

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.

Ayebae, who transitioned from a renowned banker to an accomplished industrialist, currently leads Fidson Healthcare and owns an impressive 33.1-percent stake in the pharmaceutical company, which translates to 759,643,749 ordinary shares.

Since July 25, Fidson’s shares on the Nigerian Exchange (NGX) have fallen by 7.42 percent, declining from N15.50 ($0.0201) to R14.35 ($0.0186) at the time of writing, thus leading to losses amounting to millions of dollars for its shareholders, including the pharma tycoon.

As a result of the single-digit percent decline in the shares of Fidson Healthcare, the market value of Ayebae’s stake has slumped by N873.59 million ($1.13 million) from N11.77 billion ($15.30 million) on July 25 to N10.90 billion ($14.16 million) at the time of writing.

Despite this decline, Ayebae’s influence remains unwavering as a pivotal figure among Nigeria’s esteemed multimillionaires as he stands as a resolute force on the Nigerian Exchange, where his strategic investments and visionary leadership continue to shape Fidson Healthcare’s trajectory as his commitment to has been an enduring pivot.

In the face of a recent market value setback, his astute guidance and steadfast dedication are the cornerstones that uphold Fidson Healthcare’s enduring prominence and its lasting impact on the industry.