Fidelis Ayebae, a Nigerian multimillionaire businessman and pharmaceutical magnate known for his achievements in the pharmaceutical industry, recently saw the value of his investment in Fidson Healthcare Plc fall by more than $1 million.
According to HowNG statistics, the market value of Ayebae’s share in Fidson Healthcare has declined by N877.59 million ($1.13 million) since July 25, as investors on the local exchange reduce their holdings in Fidson Healthcare.
Fidson Healthcare began its transformational journey as a local pharmaceutical product wholesaler. However, under the visionary leadership of Ayebae, it has greatly extended its operations. In March 2005, the company became the first in the region to produce antiretroviral (ARV) medications after establishing its first local production facility in 2002.
Fidson Healthcare, which was founded more than 27 years ago, has thrived under the shrewd guidance of Ayebae, who converted from a well-known banker to a successful manufacturer.
Ayebae, who went from a well-known banker to a successful businessman, now runs Fidson Healthcare and owns an astonishing 33.1 percent ownership in the pharmaceutical company, which amounts to 759,643,749 ordinary shares.
Fidson’s shares on the Nigerian Exchange (NGX) have declined 7.42 percent since July 25, falling from N15.50 ($0.0201) to R14.35 ($0.0186) at the time of writing, resulting in losses totaling millions of dollars for its shareholders, including the pharma billionaire.
Because of the single-digit percent loss in Fidson Healthcare shares, the market value of Ayebae’s interest has dropped 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, 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 decline, his astute counsel and unwavering dedication are the cornerstones that ensure Fidson Healthcare’s long-term prominence and impact on the industry.
