Shareholders of Access Holdings Plc have approved raising up to N40 billion in fresh equity through a private placement.
The decision emerged from a virtual Extraordinary General Meeting held on December 18, 2025.
Access Holdings disclosed the outcome in a corporate filing to the Nigerian Exchange Limited.
Members authorised the board to issue new ordinary shares at N20.25 each, or another price it determines, to selected investors in tranches.
The board gained flexibility to finalise the amount, structure, timing, and investor mix, pending regulatory approvals.
ALSO READ
Shareholders agreed to increase the issued share capital from N26.66 billion to N27.65 billion by creating 1.98 billion new shares of 50 kobo each.
New shares will rank equally with existing ones, potentially causing dilution for current holders based on the raise size.
The board received powers to negotiate terms, appoint advisers, and obtain approvals from the Central Bank of Nigeria, Securities and Exchange Commission, and Nigerian Exchange Limited.
This initiative targets institutional investors to enhance capital buffers amid regulatory demands and support expansion across banking and non-bank operations.
The approval builds on the group’s earlier N351 billion rights issue, reinforcing its position in Nigeria’s banking sector recapitalisation drive.
