{"id":684,"date":"2024-07-07T21:19:30","date_gmt":"2024-07-07T21:19:30","guid":{"rendered":"https:\/\/panoramanews.com.ng\/?p=684"},"modified":"2024-07-07T21:21:42","modified_gmt":"2024-07-07T21:21:42","slug":"sec-approves-commencement-of-access-holdings-n351bn-rights-issue","status":"publish","type":"post","link":"https:\/\/panoramanews.com.ng\/index.php\/2024\/07\/07\/sec-approves-commencement-of-access-holdings-n351bn-rights-issue\/","title":{"rendered":"SEC approves commencement of Access Holdings N351bn rights issue\u00a0"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-685\" src=\"https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/07\/images.jpg\" alt=\"\" width=\"299\" height=\"168\" \/><\/p>\n<p>Agency Report<\/p>\n<p>Kindly share this story:<\/p>\n<p>The Securities and Exchange Commission has approved the commencement of the N351 billion rights issue capital raising programme of Access Holdings Plc.<\/p>\n<p>A statement made available by the Holdings to newsmen on Sunday in Lagos confirmed this.<\/p>\n<p>The group said the approval marked a significant milestone in its previously announced capital raising programme, which aimed to generate up to $1.5 billion.<\/p>\n<p>It also said that the rights issue was strategically structured to boost Access Holdings\u2019 financial position and support ongoing working capital needs.<\/p>\n<p>According to the Holdings, the programme will also provide funding for organic growth across its banking and non-banking subsidiaries.<\/p>\n<p>\u201cThe approved rights issue offers 17,772,612,811 ordinary shares of N0.50 each at a price of N19.75 per share.<\/p>\n<p>\u201cThe offer will be issued on the basis of one new ordinary share for every two existing ordinary shares held as of June 7, 2024,\u201d it said.<\/p>\n<p>The lead issuing house for Access Holdings\u2019 rights issue is Chapel Hill Denham Advisory Ltd., while Atlas Registrars Ltd. will serve as the registrar to the offer.<\/p>\n<p>The offer will open on July 8 and close on Aug. 14.<\/p>\n<p>It noted that the rights circular would be distributed to shareholders by Atlas Registrars Ltd., and application forms would also be available on its various websites.<\/p>\n<p>The holding company advised its shareholders to contact their stockbrokers for more details about the offer.<\/p>\n<p>Access Holdings said that it remained committed to its strategic vision of expanding its footprint and delivering exceptional value to all its stakeholders.<\/p>\n<p>It noted that the successful execution of the rights issue would further solidify the group\u2019s position as a leading financial services provider in Africa and beyond. NAN.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Agency Report Kindly share this story: The Securities and Exchange Commission has approved the commencement of the N351 billion rights&hellip;<\/p>\n","protected":false},"author":1,"featured_media":685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2],"tags":[241,240],"class_list":["post-684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy","category-news","tag-access-holdings","tag-securities-and-exchange-commission"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC approves commencement of Access Holdings N351bn rights issue\u00a0 - Panorama News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panoramanews.com.ng\/index.php\/2024\/07\/07\/sec-approves-commencement-of-access-holdings-n351bn-rights-issue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC approves commencement of Access Holdings N351bn rights issue\u00a0 - 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