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LequteMan
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There are indications that Access Bank Plc is planning to raise its capital by way of rights issue worth N60bn to N70bn, Vanguard reports.
Excerpt:
Access Bank has been meeting with domestic investors over the past week to gauge interest in a possible rights issue of 60-70 billion naira ($369-$431 million) by the fourth quarter, a fund manager and a banking source with knowledge of the roadshow, had said.
Access Bank , which raised a $400 million in Eurobond in June, wants to bolster its core capital, the fund manager who attended the meetings in Lagos told Reuters, declining to be named. Access Bank was also discussing with investors in Abuja.
An official from Access Bank declined to comment. Banks in Africa’s biggest economy have been boosting their capital levels in recent months, as the industry this year adopts new international capital requirements.
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#AccessBank #Nigeria #Vanguard
Excerpt:
Access Bank has been meeting with domestic investors over the past week to gauge interest in a possible rights issue of 60-70 billion naira ($369-$431 million) by the fourth quarter, a fund manager and a banking source with knowledge of the roadshow, had said.
Access Bank , which raised a $400 million in Eurobond in June, wants to bolster its core capital, the fund manager who attended the meetings in Lagos told Reuters, declining to be named. Access Bank was also discussing with investors in Abuja.
An official from Access Bank declined to comment. Banks in Africa’s biggest economy have been boosting their capital levels in recent months, as the industry this year adopts new international capital requirements.
click here to read more
#AccessBank #Nigeria #Vanguard
