Access Holdings Plc, a leading financial services group in Africa, has launched a N351 billion Rights Issue aimed at raising up to US$1.5 billion. This initiative is part of the Group’s broader Capital Raising Programme, designed to strengthen its financial foundation and support ongoing working capital needs, including funding for organic growth in both banking and non-banking subsidiaries.
The Acting Group Chief Executive Officer, emphasized that the Rights Issue is a crucial element of their growth strategy and capital plans. He stated, “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.” Bolaji Agbede expressed confidence that this initiative would enhance the Group’s market position and drive sustainable growth.
The Rights Issue consists of 17,772,612,811 ordinary shares, priced at N19.75 each, with a subscription offer of one new ordinary share for every two existing shares.
