https://en.sputniknews.africa/20241226/nigerias-access-bank-raises-228-mln-in-rights-issue-of-shares-exceeds-new-capital-requirements-1069903615.html
Nigeria's Access Bank Raises $228 Mln in Rights Issue of Shares, Exceeds New Capital Requirements
Nigeria's Access Bank Raises $228 Mln in Rights Issue of Shares, Exceeds New Capital Requirements
Sputnik Africa
With the successful rights issue of shares, Nigeria's Access Bank's share capital would increase to $389 billion, $64 billion above the regulatory minimum... 26.12.2024, Sputnik Africa
2024-12-26T17:45+0100
2024-12-26T17:45+0100
2024-12-26T18:13+0100
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Nigeria's Access Holdings secured regulatory approvals for its recently completed rights issue of more than 17.7 billion ordinary shares, raising the target amount of 351 billion naira ($228 million), which allowed the company to exceed the Central Bank's new capital requirements, the company said in a statement on Tuesday.The successful, fully digital rights issue highlights Access Holdings' commitment to innovation and improved shareholder access to the equity capital market, according to the company's chairman, Aigboje AigImoukhuede.In early November, the Access Bank UK CEO, Jamie Simmonds, announced the opening of a new branch in Hong Kong.
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nigeria, development, bank, banking, central bank, finance, west africa
Nigeria's Access Bank Raises $228 Mln in Rights Issue of Shares, Exceeds New Capital Requirements
17:45 26.12.2024 (Updated: 18:13 26.12.2024) Elizaveta Roschina
Writer/Editor
With the successful rights issue of shares, Nigeria's Access Bank's share capital would increase to $389 billion, $64 billion above the regulatory minimum requirement, the bank noted.
Nigeria's Access Holdings secured regulatory approvals for its recently completed rights issue of more than 17.7 billion ordinary shares, raising the target amount of 351 billion naira ($228 million), which allowed the company to exceed the Central Bank's new capital requirements, the company
said in a statement on Tuesday.
"This development has positioned the company's flagship subsidiary Access Bank, as the first bank to meet the Central Bank of Nigeria's 500 billion naira [around $324] minimum capital requirements for banks with international authorization [set in March 2024] well ahead of the March 2026 regulatory deadline," the statement read.
The successful, fully digital rights issue highlights Access Holdings' commitment to innovation and improved shareholder access to the equity capital market, according to the company's chairman, Aigboje AigImoukhuede.
In early November, the Access Bank UK CEO, Jamie Simmonds,
announced the opening of a new branch in Hong Kong.
