Access Holdings Plc the Group, one of Africas leading financial services groups, has announced the commencement of its N351 billion Rights Issue the Offer.
A subset of the Groups Capital Raising Programme aiming to generate up to US1.5 billion One Billion, Five Hundred Million United States Dollars, the Rights Issue is designed to strengthen the Groups financial footing and support ongoing working capital needs, including organic growth funding for its banking and non-banking subsidiaries.
Bolaji Agbede, Acting Group Chief Executive Officer of Access Holdings Plc, stated 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. We are confident that this exercise will solidify our position as a market leader and drive sustainable growth for years to come.
Access Holdings Rights Issue offers 17,772,612,811 ordinary shares of N0.50 each at N19.75 per share. The Offer will be issued on the basis of one 1 new ordinary share for every two 2 existing ordinary shares held as of Friday, 7 June 2024.
