The Securities and Exchange Commission has approved the extension of the rights issue of Access Holdings Plc to the 23rd of August, 2024.
A statement from Access Bank indicated that its N351bn rights issue, earlier scheduled for Wednesday, has been extended due to the effects of the hunger protests across the country.
On the 9th of July, 2024, Access Holdings told shareholders and regulators that it seeks to “become the world’s first truly African global brand in the financial sector” following its aggressive growth in two decades from a mid-sized lender to the biggest banks on the continent through strategic acquisitions operating in 18 countries.
This extension is estimated to “provide shareholders with ample opportunity to subscribe to their rights.”
Access Holdings is offering 17.7 billion new ordinary shares at ₦19.75 each with the bank targeting to use the funding to pursue its global ambitions.
“During the extended period of the Issue, dealings by the Company’s insiders on the Company’s shares will continue to be strictly limited to participation in the Rights Issue as earlier approved by the Exchange in respect of the Non-Dealing Period on the Company’s Audited Interim Financial Statements for the Period Ended June 30, 2024, until 24 hours after the publication of the Interim Financial Statements,” it added.
