…share capital increases to N600bn
Access Holdings Plc has secured full regulatory approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) for its recent Right Issue. The company issued 17,772,612,811 Ordinary Shares of 50 Kobo each at N19.75 Kobo per share, raising a total of N351.009 billion.
This achievement has positioned Access Bank Plc, the company’s flagship subsidiary, as the first bank to meet the CBN’s minimum capital requirement of N500 billion for banks with International Authorization, well ahead of the regulatory deadline in March 2026. As a result, the bank’s share capital will increase to N600 billion, exceeding the regulatory minimum by N100 billion.
Embracing innovation, Access Holdings Plc became the first CBN-licensed Financial Holding Company to successfully execute a fully digital Rights Issue, utilizing technology to enhance access to the equity capital market. By utilizing NGX’s E-offer platform, the company offered its shareholders a seamless and efficient subscriber experience, reducing barriers to participation in the Rights Issue.
Chairman Aigboje Aig-Imoukhuede expressed satisfaction with the successful offer, highlighting the consistent support of the capital markets and shareholders towards the Access brand over the years. He also acknowledged the crucial roles played by the CBN and SEC in ensuring the success of the Rights Issue.
The company is grateful for the loyalty and support of its shareholders and is well-positioned to leverage its enhanced capital base to deliver sustainable value for stakeholders in the new year.