Nigeria’s Access Bank Plc on Friday listed an additional 6,045,052,723 ordinary shares of 50 kobo each on the Daily Official List (DOL) of the Nigerian Stock Exchange (NSE), adding that it plans to raise additional capital.
The bank in a notice to the Exchange said that by the listing “the total outstanding shares of the Access Bank Plc now stood at 28,927,971,631 units. This is on the basis of one new ordinary share for every three ordinary shares held (right issue) were added to the existing shares of the bank. “
The Nigeria lender says said it plans to raise additional capital in the future and proceeds from the funds would be raised via a local currency instrument,
Access Bank in January this year opened a rights issue to existing shareholders and offered 7.63 billion ordinary shares of 50 kobo each at a ratio of one new share for every three held at N6.90 per share.
The bank said that its right issue was 79.32 percent subscribed by shareholders meant for expansion of branches boosting infrastructure and lending.
By Nkechi Naeche