Access Holdings Plans N40 Billion Capital Raise via Private Placement

Access Holdings PLC in Nigeria is seeking shareholder approval to raise N40 billion through a private placement, aiming to boost its capital for expansion in various financial sectors. The plan involves issuing new shares to raise funds, with the Extraordinary General Meeting scheduled for December 18.

The move is part of the group's strategy to increase its capital base and support growth in its core banking operations, payment services, insurance, and pension businesses. The company will offer shares to select investors at N20.25 per share, subject to regulatory compliance and approval from relevant authorities like the Nigerian Stock Exchange and the Central Bank of Nigeria.