Access Bank Delists Shares Ahead of Listing Holding Company

One of Nigeria’s leading financial institutions, Access Bank Plc has suspended trading in its shares as it moves to become a holding company.

The lender announced on Thursday in a statement to the Nigerian Exchange Limited (NGX).

It should be recalled that Investors King reported the lender’s plan to delist 35,545,225,622 ordinary shares of 50 kobo each issued and paid-up capital of the bank held by shareholders and list Access Bank Holdings Plc to include other business operations like GTCo and other financial institutions that have toll that line.

The 35,545,225,622 ordinary shares of 50 kobo will be transferred to Access Bank Holdings Plc in exchange for equal ordinary shares of 50 kobo each in the bank as fully paid without any further act or deed.

“Access Bank Plc – Full Suspension of Trading Trading License Holders and the investing public are hereby notified that trading in the shares of Access Bank Plc (the Bank) was suspended on Thursday, 24 March 2022.

“The suspension is necessary to prevent trading in the shares of the Bank in preparation for the eventual delisting of Access Bank Plc from the Daily Official List of Nigerian Exchange Limited (the Exchange) and listing of the Holding Company, Access Holdings Plc on the Exchange.”