Access Holdings Plc will open a rights issue of 17,772,612,811 ordinary shares to existing shareholders on Monday, July 8, 2024. The Group Managing Director, Bolaji Agbeje, stated that the rights issue, priced at N19.75 per share on a one-for-two basis, aligns with the company’s strategic plan for 2023-2027 and aims to enhance growth and shareholder value. The initiative also aims to meet the new N500 billion capital base mandated by the Central Bank of Nigeria, with a compliance deadline of March 31, 2026.
Chairman Aigboje Aig-Imoukhuede highlighted this as a significant corporate action for Access Holdings, marking the second rights issue since 2002. The raised capital will support both banking and non-banking ventures, including pensions and fintech, strengthening the company's presence across Africa and beyond. Managing Director Roosevelt Ogbonna emphasized that previous capital raises were successful, noting the company's substantial market position as the largest bank in Nigeria and among the top in Africa.
Chairman Aigboje Aig-Imoukhuede highlighted this as a significant corporate action for Access Holdings, marking the second rights issue since 2002. The raised capital will support both banking and non-banking ventures, including pensions and fintech, strengthening the company's presence across Africa and beyond. Managing Director Roosevelt Ogbonna emphasized that previous capital raises were successful, noting the company's substantial market position as the largest bank in Nigeria and among the top in Africa.