Access Holdings Plc has successfully concluded its rights issue of 17.77 billion ordinary shares of 50 Kobo each, priced at N19.75 per share. The additional shares were officially listed on the Daily Official List of Nigerian Exchange Limited (NGX) on Friday.
This was contained in the NGX weekly report seen by NewsNGR.
The rights issue was executed based on one new ordinary share for every two existing ordinary shares held as of the close of business on Friday, June 7, 2024. This strategic move is aimed at bolstering the company’s capital base and driving its growth initiatives.
According to the report, with the listing of the 17.77 billion additional shares, Access Holdings’ total issued and fully paid-up shares have increased from 35,545,225,622 to 53,317,838,433 ordinary shares of 50 Kobo each.
This substantial increase highlights the company’s commitment to enhancing shareholder value and expanding its operational capacity.
The newly listed shares are expected to improve liquidity and attract further investor interest in Access Holdings Plc. The company’s decision to price the rights issue at N19.75 per share reflects its confidence in delivering sustainable returns to its shareholders.
This development marks a significant milestone for Access Holdings, aligning with its strategic objectives to strengthen its position in the financial sector. The successful completion and listing of the rights issue reaffirm the company’s market standing and proactive approach to capital management.