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Fidelis Ayebae, the Nigerian multimillionaire businessman and pharmaceutical industry stalwart, has experienced a remarkable surge in the value of his stake in Fidson Healthcare Plc in recent times.
According to data tracked by Billionaires.Africa, the market value of Ayebae’s stake in the pharmaceutical company has increased by N1.15 billion ($1.45 million) over the past 25 days, as local investors fervently upped 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.
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 Aug. 14, Fidson’s shares on the Nigerian Exchange (NGX) have surged by 10.59 percent, rising from N14.35 ($0.0182) to R15.87 ($0.0201) at the time of writing. This surge has resulted in significant gains for the company’s shareholders.
As a result of the double-digit percent increase in the shares of Fidson Healthcare, the market value of Ayebae’s stake has surged by N1.15 billion ($1.45 million) from N10.90 billion ($13.83 million) on August 14 to N12.05 billion ($15.29 million) at the time of writing.
This surge comes on the heels of a setback, where Ayebae witnessed a significant loss of N873.59 million ($1.13 million), causing his stake to plummet from N11.77 billion ($15.30 million) on July 25 to N10.90 billion ($14.16 million) on August 14.
However, the recent gains solidify Ayebae’s position as one of Africa’s pharmaceutical industry magnates and firmly establish him as one of the wealthiest investors on the Nigerian Exchange.
Ayebae’s extraordinary journey from banking to the pharmaceutical sector continues to serve as a profound source of inspiration within Nigeria’s dynamic business landscape.
