Glamtush reports that Access Holdings Plc, one of Africa’s leading financial groups, has unveiled plans to establish a Capital Raising Programme of up to US$1,500,000,000.00 (One Billion, Five Hundred Million United States Dollars) or its equivalent (‘the Programme’).
The Programme aims to enhance the Group’s financial strength through the issuance of various financial instruments such as ordinary shares, preference shares, Alternative Tier 1 capital, convertible and/or non-convertible debt, bonds, or other capital and/or funding instruments.
The Programme may be executed through a variety of methods including public offerings, private placements, rights issues, book building processes, or a combination thereof. The specifics regarding the tranches, series, proportions, dates, pricing, tenor, and other terms and conditions that may be associated, will be determined by the Board of Directors, contingent upon securing the necessary regulatory approvals.
Drawing from the Programme, the Group expects to raise up to N365,000,000,000.00 (Three Hundred and Sixty-Five Billion Naira) specifically via a Rights Issue of ordinary shares. The proceeds of the proposed Rights Issue would be used to support ongoing working capital needs including organic growth funding for its banking and other non-banking subsidiaries.
The plans for the Programme were disclosed in the Group’s Notice of the 2nd Annual General Meeting holding on April 19, 2024 which was published on the Nigerian Exchange portal on March 27, 2024.
An editor of First News has resigned in protest as the newspaper's management apologised to Gbajabiamila over a published…
The Corporate Affairs Commission (CAC) has inaugurated a centre for bulk registration of Point of…
Nigerian Oluwami Dosunmu-Ogunjobi has emerged as the first black woman to bag a PhD in Robotics…
CBN has published the full list of licensed Deposit Money Banks. Glamtush reports that…
EFCC is set to arraign Sirika, his daughter and two others on Thursday over alleged…
Access Holdings has vested 23.8 million units of shares on its senior executives. Glamtush…