The Nigerian Exchange (NGX) has admitted 1,057,958,025 ordinary shares of Access Holdings Plc, marking a significant expansion of the bank holding company’s issued share capital following the partial completion of its private placement programme.
The listing, disclosed in the Exchange’s weekly market report for the trading week ended 10 April 2026, represents subscribed units from a broader capital raise exercise aimed at strengthening the institution’s capital base and supporting its long-term growth and balance sheet expansion strategy.
According to the NGX, the newly admitted shares are part of a 1,975,308,641 ordinary share private placement undertaken at N20.25 per share. The offer was designed to raise approximately N39.9 billion, though only N21.4 billion was realised in the portion completed so far, reflecting a 53.54 per cent subscription level.
The Exchange confirmed that only the subscribed 1,057,958,025 units were admitted to its official daily list on Wednesday, 8 April 2026, in line with listing requirements for partially subscribed equity offerings.
With the admission of the new shares, Access Holdings Plc’s total issued and fully paid-up share capital has risen from 53,317,838,433 units to 54,375,796,458 ordinary shares of 50 kobo each.
At the prevailing market price of N26 per share, the group’s market capitalisation has also strengthened, rising to N1.41 trillion from N1.38 trillion prior to the listing. The marginal uplift reflects both the increase in outstanding shares and sustained investor demand for the stock.
The capital raise itself was approved by shareholders at an Extraordinary General Meeting held virtually on 18 December 2025, where investors authorised the company to raise up to N40 billion through a private placement. The transaction forms part of broader efforts by Access Holdings to reinforce its capital adequacy position and support expansion across its banking and non-banking subsidiaries.
The NGX report also highlights that the new shares have already begun to influence the stock’s valuation trajectory. Access Holdings has recorded a year-to-date gain of 23.81 per cent in 2026, rising from an opening price of N21 to N26 as of the trading week ended 10 April.
The stock’s performance has been underpinned by strong liquidity, with over 3.8 billion units traded year-to-date, placing it among the most actively traded equities on the Nigerian Exchange alongside other tier-one banking stocks.
Despite the recent rally, the stock had previously experienced downward pressure in 2025, when it declined by 11.95 per cent, falling from an opening price of N23.85 to close the year at N21. The recovery seen in 2026 indicates renewed investor positioning, with market participants increasingly taking advantage of the previous year’s price weakness.
Market data indicates that investor appetite has been particularly strong in the early part of the year, with Access Holdings recording its best monthly performance in February 2026, when it posted a 17.26 per cent gain. This momentum has contributed to its current upward trajectory and improved market valuation.
Operationally, the group continues to rely on its position as one of Nigeria’s most liquid banking stocks. The increased share capital is expected to provide additional headroom for regulatory compliance, lending growth, and investment in digital and regional expansion strategies.
Access Holdings’ most recent financial disclosure remains its nine-month 2025 results, released on 30 October 2025, in which the group reported a pre-tax profit of N616 billion, representing a 10.4 per cent increase from N558 billion recorded in the corresponding period of the previous year.
The absence of full-year audited 2025 results has not significantly dampened investor interest, although analysts note that updated earnings visibility could play a role in shaping medium-term sentiment around the stock.
In terms of capital structure, Access Holdings trades under the ticker ACCESSCORP and remains a core component of the Nigerian Exchange’s tier-one banking group, commonly referred to as FUGAZ. The group’s scale, liquidity, and diversified financial services footprint continue to position it as a key bellwether for the banking sector.
