Access Holdings Plc has unveiled plans to create 1,975,308,641 new ordinary shares as part of a wider capital expansion programme designed to support the Group’s proposed ₦40 billion private placement.
The move forms a key component of the resolutions to be presented at the Company’s Extraordinary General Meeting (EGM) scheduled for December 18, 2025.
The new shares, each valued at 50 kobo, will rank pari passu with existing ordinary shares and will be used to accommodate the anticipated inflow from institutional and strategic investors participating in the private placement.
The issuance is expected to increase the Company’s share capital from ₦26.66 billion to ₦27.65 billion, enhancing the Group’s ability to pursue long-term growth initiatives across its core business segments.
According to the EGM notice signed by Company Secretary Sunday Ekwochi, the Board is seeking approval to raise up to ₦40 billion or an equivalent amount in foreign currency.
The capital raise is expected to strengthen Access Holdings’ financial capacity as a licensed Financial Holding Company operating under the oversight of the Central Bank of Nigeria.
In connection with the capital raise, shareholders will also vote on authorising the Board to allot the newly created shares at ₦20.25 per share, or at a price subsequently determined by the directors based on prevailing market conditions and investor negotiations.
The Board will be empowered to identify potential private placement investors, finalise structure and valuation, and appoint professional advisers to execute the transaction.
The capital expansion is aimed at strengthening liquidity buffers, providing additional funding for the Group’s banking, lending, payments, insurance, and pensions businesses, and positioning Access Holdings to take advantage of opportunities within Nigeria’s rapidly evolving financial services environment.
The notice also confirms that the Company’s Memorandum and Articles of Association will be amended to reflect the new share structure, subject to approvals from the Corporate Affairs Commission (CAC), the Securities and Exchange Commission (SEC), and the Nigerian Exchange Limited (NGX).
Access Holdings further disclosed that its register of members will close on December 11, 2025, ahead of the meeting, with shareholders permitted to submit proxy forms or ask questions in line with regulatory guidelines.
The creation of nearly two billion new shares marks a significant step in Access Holdings’ capital strategy, reinforcing its ambition to remain one of the most well-capitalised and diversified financial service groups in Africa.