Access Holdings Plc shareholders have approved raising up to N40 billion in fresh equity through private placement. The decision strengthens the financial holding company’s capital base amid regulatory and growth demands.
Okay News reports that the approval occurred at a virtual Extraordinary General Meeting on December 18, 2025. Members endorsed resolutions empowering the board to execute the transaction.
The board gained authority to allot new ordinary shares at N20.25 per share or adjusted pricing. It can structure the raise in tranches to selected investors.
Shareholders increased issued share capital from N26.66 billion to N27.65 billion. This creates 1.98 billion additional ordinary shares of 50 kobo each.
Total issued shares will rise from approximately 53.32 billion to 55.29 billion. New shares rank equally with existing ones, potentially diluting current holdings.
Unallotted shares may be cancelled. The board retains flexibility for further capital adjustments if needed.
Directors received broad powers to negotiate terms and select investors. They will appoint advisers and secure regulatory nods from bodies like the Central Bank of Nigeria, Securities and Exchange Commission, and Nigerian Exchange Limited.
The company secretary will update records at the Corporate Affairs Commission. Amendments to the Memorandum and Articles of Association reflect the changes.
This private placement targets institutional or strategic partners. It avoids broader public offers while addressing funding pressures from currency shifts and subsidiary expansion.
Earlier in 2025, Access Holdings raised N351 billion via rights issue. That effort met the regulator’s N500 billion benchmark for banks.
The latest raise supports acquisitions and operational growth across banking and non-bank units. It reinforces balance sheet resilience in a volatile environment.
These steps position Access Holdings for sustained expansion and compliance in Nigeria’s evolving financial sector.
