Access Bank will start marketing a rights issue on Monday aiming to raise 52.6 billion naira ($275.10 million) to invest in infrastructure and boost lending.
According to marketing documents seen by Reuters, the lender will sell 7.63 billion ordinary shares at 6.90 naira each at a ratio of one new share for every three held by existing shareholders.
The issue will close on March 4 and the new shares will be listed on the Nigerian Stock Exchange for trading on June 1, the bank said.
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