Access Bank has started its journey towards the new capital base required by the Central Bank of Nigeria. Its target is to raise its capital base to at least N500 billion to retain its international operations licence.
As a first step, it is offering 17,772,612,811 shares of N0.50 at N19.75 per share to existing shareholders. The rights issue is being issued based of one (1) new ordinary share for every two (2) shares held as at June 7, 2024.
The offer opened on July 8 and it will close on August 14, 2024.