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    Access Holdings Rises to N1.287trn on Rights Issue Listing

    Julius AlagbeBy Updated:No Comments1 Min Read
    Access Holdings Rises to N1.287trn on Rights Issue Listing

    Access Holdings Rises to N1.287trn on Rights Issue Listing

    Nigeria’s largest commercial banking group, Access Holdings Plc.’s, market value rose to N1.287 trillion in the equities market after the financial services group listed additional shares from a successful completion of its rights issue offer to shareholders.

    According to information obtained from the Nigerian Exchange, Access Plc’s share price settled at N24.15 on Friday ahead of the group’s fourth quarter earnings releases, from N24.50 at the beginning of the week.

    The Nigerian Exchange listed Access Holdings Plc’s Right Issue totalling 17,772,612,811 ordinary shares of 50 kobo each at N19.75 on its trading platform. This increased the group shares outstanding on the local bourse to 53.17 billion in the equities market.

    Following a successful rights issue offer, the holding company’s banking arm, Access, has achieved a new regulatory capital base of N500 billion. MarketForces Africa reported that the banking group’s rights issues increased its capital base by N100 billion in regulators’ demand. #Access Holdings Rises to N1.287trn on Rights Issue Listing  Ministry Seeks $2 billion Fibre Optics Funding

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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