Access Holdings, the Lagos-based financial services giant led by Nigerian banker Aigboje Aig-Imoukhuede, has received approval from the Securities and Exchange Commission SEC to extend its N351bn 229 million rights issue until August 23.
The extension was granted following disruptions from widespread hunger protests across Nigeria, which impacted economic activities nationwide. The rights issue, initially slated to conclude on August 14, involves the offering of 17.773 billion ordinary shares at N19. 75 0.0124 per share .
Shareholders are entitled to one new share for every two held as of June 7. The SEC's extension aims to provide shareholders with additional time to participate in the capital raise, given the recent nationwide unrest.
Access Holdings extends rights issue deadline"The extension responds to the recent nationwide protest that disrupted business operations across Nigeria and ensures shareholders have ample opportunity to exercise their rights," said Sunday Ekwochi, the Group's Company Secretary, in a statement released Tuesday.
