Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:

Archive:

  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

Access Bank hits new ranking as NSE lists merger shares

Published by The Nation on Wed, 03 Apr 2019


Access Bank leapt by two steps to become one of the six most capitalised financial institutions in Nigeria as the first-tier commercial bank fully consummated its business combination with Diamond Bank Plc with the listing of the merger shares and the delisting of Diamond Bank.The Nigerian Stock Exchange (NSE) listed 6.617 billion ordinary shares of 50 kobo each issued as consideration to shareholders of the defunct Diamond Bank in the name of Access Bank Plc. The additional listing of scheme shares increased Access Banks total outstanding shares from 28.93 billion ordinary shares of 50 kobo each to 35.545 billion ordinary shares of 50 kobo each.With the listing of the new merger shares allocated to shareholders of the defunct Diamond Bank, the NSE also simultaneously delisted the entire paid up shares of Diamond Bank totaling 23.16 billion ordinary shares of 50 kobo each.The listing and delisting followed the approval of the National Council of the NSE, after the banks had completed the due diligence and merger process including approvals of their shareholders, approvals of the regulators, sanctions of the Federal High Court, payments of considerations and allocation of the relevant scheme shares.However, the NSE was unable to commence trading on the listed scheme shares yesterday citing certain operational reasons.The Exchange regrets any inconvenience caused the holders of the affected shares. The Exchange is working assiduously with Central Securities Clearing System (CSCS) and the Registrar to the company to produce a swift resolution and will be providing further updates as soon as we can, the NSE stated.Meanwhile, Access Bank has also listed its N15 billion green bond on the NSE and FMDQ OTC Securities Exchange. The listing followed approval of the bond by the Securities and Exchange Commission (SEC).The green bond is the first of its kind to be issued by an African corporate and represents a major milestone in the development of the local green finance market.REad also:Access Bank bridges N800b agric funding gapThe Five-Year Fixed Rate Senior Unsecured N15 billion Green Bond was awarded an Aa- rating by Agusto & Co, the underlying framework verified by PwC (UK) and the bond was certified by the Climate Bonds Initiative as having met the global climate bonds standard. The offer for the green bonds was achieved by way of a book build which was fully subscribed. The bonds priced at a coupon of 15.5 per cent, with participation from a wide range of asset managers and pension fund administrators.The listing of the bond came on the heels of the completion of the banks merger with Diamond Bank and the launch of its new brand identity that fuses the bank and Diamond Banks visual identities symbolizing their shared philosophy.Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe, said the green bond issuance highlights the banks commitment to sustainability and its status as a pioneer in green financing in both the domestic and international capital markets.He noted that the bond comes amidst a global drive for responsible and sustainable green financing and will allow the financing of new loans and refinancing of existing loans in accordance with the banks green bond framework.He said the green bond will support projects directed at flood defense, solar generation facilities and agriculture.At Access Bank we are a pioneer in both domestic and international capital markets, leading the way with our commitment to sustainable banking. We hope that this bond issuance inspires other African companies to support the long-term development of the green finance market whilst simultaneously realizing the growth potential of the fast-developing low carbon economy, Wigwe said.Deputy Chief Executive, Climate Bonds, Justine Leigh-Bell, praised Access Banks efforts in promoting sustainability in Africa through the financing of green projects.Leigh-Bell said Access Banks Climate Bond-certified corporate green bond represents a major milestone in the development of the local green finance market.In addition to being an inspiration to other private companies, the leadership demonstrated by Access Bank is critical for the long term development of the green finance market in Nigeria and a great example for other African nations to follow, Leigh-Bell said.
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Nigerian Tenders  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs