SEC Approves Access Holdings’ ₦351bn Rights Issue

The Securities and Exchange Commission has approved Access Holdings Plc’s ₦351 billion rights issue, a key part of the group’s plan to raise up to $1.5 billion in new capital. The offer covers 17.77 billion ordinary shares priced at ₦19.75 each. Eligible shareholders were offered one new share for every two shares held as of June 7, 2024. Access Holdings said the funds would strengthen its financial position, support working capital and finance growth across its banking and non-banking subsidiaries. The rights issue was scheduled to run from July 8 to August 14, 2024.

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