| IPO Details |
| Company Profile |
| Summary of the Offer |
| Important Highlights |
| Important Dates |
| Advisers and Vendors |
| Historical Financials |
| IPO Prospectus |
| In the News |
| Name | First Bank of Nigeria plc |
| Security Type | Ordinary |
| Ticker | FIRSTBANK |
| Reuters Code | |
| ISIN | NGFIRSTBANK7 |
| Number of Employees | 8,757 |
| Address | Samuel Asabia House 35 Marina |
| P.O. Box 5216 | |
| Lagos, Nigeria | |
| Website | www.firstbanknigeria.com |
| Phone | 2663562 |
| Fax | 2665933 |
| fbn@firstbanknigeria.com | |
| Nature of Business | First Bank of Nigeria is one of the Nigeria's oldest financial institutions founded in 1894 as Bank of British WestAfric a and listed on the Nigeria Stock Exchange in 1971. The bank currently has the largest network in the country and a l s o o ffers offshore financial services through it London branch. The banks assets are in the excess of N100billion. |
| Offer Type | Public Offer | ||||||||||||||||||||||||||||||||
| Offer Method | Offer for Subscription | ||||||||||||||||||||||||||||||||
| Purpose | The proceeds of the Total Offer will be used to expand FirstBank’s retail infrastructure in Nigeria, strengthen subsidiaries’ capital base to support business growth, enlarge FirstBank’s capital resources to selectively exploit value creation opportunities in the regional financial markets and elsewhere (particularly Africa, Middle East and Asia), support enlarged operations and broaden relationship management capabilities. | ||||||||||||||||||||||||||||||||
| Utilization of Proceeds | The estimated net Total Offer proceeds of N96 billion, after deduction of Total Offer costs of N4 billion (estimated at 4% of the gross issue proceeds), thereof will be utilized as follows:
*Lagos 74, Ogun 2, Ondo 5, Ekiti 2, Osun 4 Oyo 3, FCT 12, Plateau 6, Kaduna 9, Kano 8, Kogi 5, Kwara 2, Borno 4, Benue 7, Niger 4, Adamawa 8, Bauchi 3, Sokoto 2, Akwa Ibom 5, Abia 5, Cross River 5, Rivers 15, Bayelsa 2, Enugu 14, Ebonyi 1, Edo 4, Anambra 3, Imo 3, Delta 3. |
||||||||||||||||||||||||||||||||
| Target Investors | |||||||||||||||||||||||||||||||||
| Par Value of each share | NGN 0.50 |
| Authorised Share Capital | 20,000,000,000 |
| Fully Paid Share Capital | 10,477,338,776 |
| Shares Offered for Sale | 1,624,253,238 |
| % of Fully Paid Shares Offered for Sale | 15.50% |
| Offer Price per Share | NGN 33.00 |
| Price Earning (PE) Ratio at Offer Price | 64.71 |
| Dividend Yield at Offer Price | -- |
| Offer Open Date | Monday, May 14, 2007 |
| Offer Close Date | Thursday, July 05, 2007 |
| Allocation Begin Date | Thursday, July 05, 2007 |
| Allocations End Date | Tuesday, Aug 21, 2007 |
| Results of Allocation Announced | Friday, Aug 24, 2007 |
| Crediting of CDS Accounts with Shares | Monday, Sep 10, 2007 |
| Dispatch of Share Certificates | Monday, Sep 10, 2007 |
| Crediting refunds through electronic funds transfer | Monday, Aug 27, 2007 |
| Dispatch of refund checks (if applicable) | Monday, Aug 27, 2007 |
| Commencement of Trading on Nigeria Stock Exchange | Friday, Sep 14, 2007 |
| Key Numbers | |
| Fiscal Year End | 31st March |
| Currency | Nigeria-Niara (NGN) |
| Sales (in millions) | 160,978.00 |
| 1 Year Sales Growth | +29.66% |
| Annual Income Summary (in millions except EPS data) | ||||
| March 31, 2009 | March 31, 2008 | -- | March 31, 2006 | |
| Sales | 160,978.00 | 124,156.00 | -- | 67,440.00 |
| Pre-Tax Income | 27,686.00 | 47,906.00 | -- | 21,833.00 |
| Net Income | 12,569.00 | 36,679.00 | -- | 17,383.00 |
| Average Shares | 24,862.54 | 13,691.00 | -- | 1,976.00 |
| EPS | 0.51 | 2.67 | -- | 3.33 |
| Total DPS | -- | -- | -- | 1.00 |
| Quarterly Income Summary (in millions except EPS data) | ||||
| March 31, 2010 | -- | -- | June 30, 2009 | |
| Sales | 40,133.00 | -- | -- | 39,533.00 |
| Cost of Goods | -- | -- | -- | -- |
| Gross Profit | 40,133.00 | -- | -- | 39,533.00 |
| Pretax Income | 15,420.00 | -- | -- | 13,654.00 |
| Net Income | 12,336.00 | -- | -- | 13,654.00 |
| Average Shares | 29,006.30 | -- | -- | -- |
| EPS | 0.43 | -- | -- | -- |
| Annual Balance Sheet Summary (in millions) | ||||
| March 31, 2009 | March 31, 2008 | -- | March 31, 2006 | |
| Cash & Equivalents | -- | -- | -- | 50,992.00 |
| Total Current Assets | -- | -- | -- | 328,888.00 |
| Total Liabilities | -- | -- | -- | 552,547.00 |
| Share Holder Equity | -- | -- | -- | 62,293.00 |
| Long Term Debt | -- | -- | -- | -- |
| Annual Consolidated Cash Flow (in millions) | ||||
| March 31, 2009 | March 31, 2008 | -- | March 31, 2006 | |
| Net cash flows generated from (used in) in operating activities | 234,301.00 | 6,337.00 | -- | 104,783.00 |
| Net cash flows generated from (used in) in investing activities | -23,355.00 | 6,141.00 | -- | -40,703.00 |
| Net cash flows generated from (used in) in financing activities | -23,867.00 | 241,058.00 | -- | -5,645.00 |
First Bank of Nigeria plc Heritage Fund Prospectus |
| First Bank of Nigeria plc |
|
First Bank Abridged Prospectus |
| First Bank of Nigeria plc |
|
First Bank Rights Offer Prospectus |
| First Bank of Nigeria plc |
|
First Banl Full Prospectus |
| First Bank of Nigeria plc |
| FIRSTBANK BIG OFFER OPENS |
| First Bank of Nigeria plc - 14 May, 2007 |
| The widely expected First Bank of Nigeria Plc N100 billion Rights Issue and Public Offer of ordinary shares, the biggest offer in the history of Nigeria’s capital market, opens on Monday, May 14, 2007 and closes on Thursday, June 21, 2007. |