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HomeBusinessAccess Bank Holdco lists 35.5 bln shares, as NGX CEO commends newly...

Access Bank Holdco lists 35.5 bln shares, as NGX CEO commends newly restructured firm

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The Nigerian Exchange Limited (NGX) Chief Executive Officer, Temi Popoola on Thursday commended Access Holding Plc’s contribution to the Nigerian growth story and emphasized NGX’s commitment to collaborating with institutions driving growth in the Nigerian economy.

Popoola spoke during the Closing Gong Ceremony hosted by NGX to commemorate the Access Holdings’ successful restructuring into a holding company structure and the listing of 35,545,225,622 ordinary shares of Access Holdings Plc on NGX on Thursday.

The NGX CEO noted that the Exchange is proud to be part of the progress that Access Holdings has successfully achieved over the past 20 years while assuring that the company will find a worthy partner in the Exchange as it commences its new journey.”

Speaking at the event, A.B. Mahmoud, Chairman, NGX, congratulated the Board of Directors and Executive Management of Access Holdings and the parties to the transaction, Chapel Hill Denham Advisory Limited, Coronation Securities Limited, Aluko & Oyebode, and Africa Law Practice NG & Company.

He said, “NGX has emerged from a recent restructuring and is better positioned to support our stakeholders in their quest to raise long-term capital”.

“The Exchange is better positioned to lead government advocacy efforts for listed companies, promote technology advancement and digital innovation for the capital market, and increase retail investor participation in the capital market aimed at building a market for the future and addressing the prevailing challenge of financial inclusion.

“We welcome Access Holdings Plc to a renewed NGX and look forward to deepening our collaboration to develop and push for disruptive, out of the box ideas financial products that will dimension the next curve for the capital market,” Mahmoud said.

Chairman, Access Holdings Plc, Bababode Osunkoya, on his par said, “The significance of this event as our first external engagement as Access Holdings Plc is not lost on us. Access Holdings Plc is an evolutionary expression for us which signifies our moving away from what was known as Access Bank into a financial institution.

“We acknowledge the impact of our collaboration with The Exchange over the years and we look forward to continuing this mutually beneficial partnership to take Nigeria and Africa to the world.”

Also, the Group Managing Director/Chief Executive Officer, Access Holdings Plc, Herbert Wigwe, thanked The Exchange for its remarkable contribution to the Corporation’s story.

He said, “In 2004, following the Central Bank of Nigeria mandated recapitalization initiative, Access Bank came to the Exchange on its maiden journey to raise capital. NGX created the platform through which we raised capital and quickly consummated one of the largest mergers in the history of this Country.

“Today’s event marks a major milestone for us as we evolve from a traditional banking institution into a full-fledged financial services provider that would create an ecosystem of financial services for all Nigerians to benefit from. This is the Exchange that made Access Bank and we thank the Exchange for its continued support over the years.”

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