There
are indications that Access Bank Plc is planning to raise its capital by way of
rights issue.
Reuters
reported that 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
