Access Holdings to Raise N40bn in Private Placement
Access Holdings Plc has revealed a plan to raise N40 billion via private placement, according to details from its emergency meeting notice sent to shareholders.
The financial services group with shares outstanding totalling 53.317 billion valued at N1.119 trillion on the Nigerian Exchange (NGX) seeks to raise its capital.
Details from its emergency shareholders meeting revealed that the group plans to increase its issued share capital from N26,658,919,216.50 to N27,646,573,537 by the creation and addition of 1,975,308,641 shares.
That the Board of Directors seeks authorisation to allot the new ordinary shares created in connection with the private placement, at a price of N20.25.
The transaction is subject to approvals of the relevant regulatory authorities including the Central Bank of Nigeria, the Securities and Exchange Commission and the Nigerian Exchange Limited as well as complying with the directive(s) of any relevant regulatory authority. #Access Holdings to Raise N40bn in Private Placement#
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