Follow Us on Google
Access Holdings Plc, a prominent financial services group in Africa, has secured approval from the Securities and Exchange Commission (SEC) to launch its N351 billion Rights Issue. This significant milestone is part of the Group’s Capital Raising Programme, aimed at generating up to US$1.5 billion (One billion, five hundred million United States Dollars).
The Rights Issue is designed to enhance Access Holdings’ financial stability and support its working capital needs. Additionally, the funds will facilitate organic growth across both its banking and non-banking subsidiaries.
The approved Rights Issue involves offering 17,772,612,811 ordinary shares of N0.50 each at N19.75 per share. Shareholders will be able to purchase one (1) new ordinary share for every two (2) existing ordinary shares held as of June 7, 2024.
Other News
Hill Denham Advisory Limited is the lead issuing house for the Rights Issue, while Atlas Registrars Limited will serve as the registrars. The offer period will commence on Monday, July 8, 2024, and close on Wednesday, August 14, 2024.
Shareholders will receive the Rights Circular from Atlas Registrars Limited, and application forms will be available on various websites.
