Access Bank Holdings has extended the acceptance period for its ongoing rights issue, providing shareholders with additional time to participate in the capital-raising exercise. The new deadline has been set for August 23rd, a strategic move aimed at accommodating more investors and ensuring that all eligible shareholders have the opportunity to take up their rights.
The rights issue, which was initially set to close earlier, is a significant component of Access Bank Holdings’ broader plan to raise additional capital. The funds generated from this exercise are expected to bolster the bank’s capital base, support its expansion plans across Africa and beyond, and enhance its ability to fund large-scale projects and investments. This move is also in line with the bank’s vision of becoming the leading financial services group in Africa.
By extending the deadline, Access Bank Holdings aims to ensure that all shareholders, including those who may have faced constraints in meeting the original deadline, can participate. The bank’s management has emphasized the importance of shareholder participation in this rights issue, as it reflects the collective commitment to the bank’s growth and success.
In a statement released by the bank, it was highlighted that the extension is also a response to feedback from shareholders who requested more time to make informed decisions about their investments. The management believes that this additional period will allow for a broader engagement with shareholders and provide them with ample time to assess the offer’s terms and benefits.
The rights issue is being offered on the basis of one new share for every existing share held, at a price that is set to be competitive and attractive to shareholders. Access Bank Holdings has expressed confidence that the capital raised will be instrumental in driving its future growth, enabling the bank to strengthen its market position, invest in technology and innovation, and expand its operations into new markets.
As the new deadline approaches, Access Bank Holdings has urged shareholders to carefully consider the offer and take advantage of the extended period to subscribe to the rights issue. The bank remains committed to its long-term growth strategy, and this rights issue is seen as a critical step in achieving its ambitious goals.
Shareholders are encouraged to consult with their financial advisors to ensure they fully understand the terms of the rights issue and the potential benefits of participating before the August 23rd deadline.
