Access Holdings Plc, led by Nigerian banker Aigboje Aig-Imoukhuede, is seeking shareholders’ approval to raise approximately N40 billion ($27.7 million) through a private placement.
The move aims to strengthen the group’s capital base, following its December 2024 fundraising of N351.01 billion ($242.9 million) to meet the Central Bank of Nigeria’s minimum capital rule for banks.
The company plans to allot new ordinary shares at N20.25 ($0.01) per share, slightly below the N21 ($0.08) closing price.
Access Holdings serves over 60 million customers across 20 countries and has reported mixed results for the first half of 2025, with gross earnings rising 13.8% to N2.49 trillion ($1.7 billion) but profit after tax falling 23.3% to N215.9 billion ($147.5 million).
