Economy
Cedar Offers N493m for Minority Shares of Union Diagnostic
By Dipo Olowookere
An investment company with special interest in the health business landscape, Cedar Advisory Partners Limited, is proposing to acquire the minority shares of a company listed on the Nigerian Stock Exchange (NSE), Union Diagnostic and Clinical Services Plc.
A statement issued by the firm on Thursday disclosed that Cedar has made an offer to the board and it intends to pay 35 kobo for each of the stocks held by the shareholders number 1,407,855,051 units.
It was stated that the total number of equities held by minority investors of the firm represents 39.62 percent equity stake of the company and the deal would be done through a scheme of arrangement.
In the disclosure released by Union Diagnostic today, it was explained that the amount being proposed by Cedar for the purchase of each of the stock represents a premium of 75 percent of the company’s last closing price on March 16, 2020 and 70.1 percent of 90-day volume weighted average share price.
In view of this, the board of Union Diagnostic said it has considered the binding offer from Cedar for the purchase of all the minority shares of the company.
“The board announces that it has fully considered the offer and will recommend the offer to shareholders for consideration at a court ordered meeting, further to the approval by relevant regulatory authorities,” the notice said.
Concluding, the company said further details concerning the transaction would be communicated to its shareholders, advising them and potential investors “to exercise caution when dealing in shares until a further announcement is made.”
As earlier stated, Cedar is an investment firm and has over the years carved a niche in the healthcare business landscape, working with major industry players across various levels of the healthcare value-chain.
It currently holds 711,916,612 ordinary shares representing 20.04 percent equity holding in the Union Diagnostic. Subsequent upon the conclusion of the transaction, Cedar will hold a combined 59.66 percent equity holding of the company.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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