• Mon. Apr 15th, 2024

Citizen NewsNG

....news at your finger tip

Access Holdings Announces US$1.5Billion Capital Raising Programme | Citizen NewsNG

ByCitizen NewsNG

Mar 29, 2024

• Targets N365 billion by way of a Rights Issue as subset of Programme

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.

For Advert, Event Coverage, Story/Article Publication, Change Of Name & Placement In Newspapers, PR & Other Media Services
Contact Us On: WhatsApp
Send Email To: citizennewsng@gmail.com
Visit Citizen NewsNG To Read More Latest And Interesting News

SHARE ON

Leave a Reply

Your email address will not be published. Required fields are marked *

Solverwp- WordPress Theme and Plugin