Access Holdings Plc is set to raise a whopping N351 billion through a Rights Issue for its existing shareholders.

This move was cemented with a formal signing ceremony at the Access Tower in Lagos yesterday.

The funds will be used to support the company’s growth, benefiting both its banking and non-banking subsidiaries.

Back in April, during their 2nd Annual General Meeting, shareholders showed strong support for this capital-raising plan, which totals about $1.5 billion.

The Rights Issue is a significant part of this strategy, aimed at enhancing Access Holdings’ working capital and fueling organic growth.

Shareholders will soon receive a Rights Circular, including a provisional allotment letter and participation form.

These forms will be available at any Access Bank branch and the offices of issuing houses throughout the Offer Application Period.

(Daily Trust)