Access Bank Extends N53b Rights Issue 

Shareholders of Access Bank Plc has been granted additional two weeks to pick up their rights in the ongoing rights issue of N52.6 billion. The management of the bank urged shareholders to take advantage of the extension to pick up their rights.
It is expected that trading on the rights issue on the Nigerian Stock Exchange (NSE) will also continue during the period. Rising Access Bank’s share price helped the equities market to sustain its bullish run. The bank’s share price rose marginally by 0.15 per cent yesterday, substantially higher than 0.05 per cent recorded by the average benchmark index at the NSE, the All Share Index (ASI). Securities and Exchange Commission (SEC) approved the extension of Access Bank Plc’s rights issue to March 18, 2015. Access Bank is offering 7.63 billion ordinary shares of 50 kobo each to existing shareholders at N6.90 per share. The rights issue, which opened on January 26 2015, was initially scheduled to close yesterday.

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