• Wednesday, May 22, 2024
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Access Bank falls 8.2 percent after stock freeze lifted

Access-bank

access-bank-buildingShares in Nigeria’s Access Bank fell 8.2 percent on Thursday after the Nigerian Stock Exchange (NSE) lifted a week old price freeze on the stocks, pending a proposed shareholder vote on its N68 billion rights issue on October 13.

The Nigerian Stock Exchange froze the bank’s shares last week after it said it planned to raise fresh capital of about 68 billion nigerian naira ($415.95 million) in a rights issue, but Access applied to have the freeze lifted because the information on the issue was now widely available.

The bank shares fell to 8.8 naira on by noon (1100 GMT) on Thursday.