Access Holdings Plc, has listed additional 17.773 billion shares on the Nigerian Exchange Limited.
The additional shares arose from Access Holdings rights issue of 17.773 billion ordinary shares of 50 Kobo each at N19.75 per share.
Access Holdings in a statement said, “trading licence holders are hereby notified that additional 17.773 billion shares at N19.75 per share were listed on January 17, 2025 on the daily official list of NGX.”
It added that “with this listing of the additional 17.773 billion ordinary shares, the total issued and fully paid-up shares of Access Holdings has now increased from 35.545 billion to 53.318 billion ordinary shares of 50 kobo each.”
Recall that Access Holdings had raised N351 billion through a rights issue, which is expected to fortify the bank’s capital base, supporting its continued expansion and its ability to seize emerging opportunities in the financial sector.
The Holding Company said that it is now focused on positioning itself among the top financial institutions in Africa.
“A subset of the Group’s capital raising programme aiming to generate up to $1.5 billion, the rights issue is designed to strengthen the Group’s financial footing and support ongoing working capital needs, including organic growth funding for its banking and non-banking subsidiaries.
“The commencement of the rights issue subscription is an important step in our growth strategy and capital-raising plans, reinforcing our financial strength and accelerating our strategic ambitions. However, this execution is more than a capital raise; it is a pivotal process that will propel us towards our goal of becoming one of the top 5 financial institutions in Africa by 2027,” Access Holdings said.
Acting managing director/chief executive officer of Access Holdings, Bolaji Agbede, stated, “the rights issue is a significant step in delivering our 2023-2027 strategic plan. The additional capital will enable us to maximise emerging opportunities and deliver long-term value to our shareholders.”
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