The Nigerian Stock Exchange (NSE), has approved Access Bank Plc‘s listing of additional 6.6 billion units of ordinary shares of 50 Kobo each, which arose from the scheme of merger with Diamond Bank Plc.
This development follows the suspension of trading in the shares of Diamond Bank Plc as earlier reported by Nairametrics.
Consequent to the approval, the resultant Scheme shares of 6.6 billion ordinary shares of 50 Kobo each, were listed by Access Bank Plc on Monday, April 1st, 2019.
In the meantime, however, the entire 23.1 billion ordinary shares of Diamond Bank Plc have been delisted from the Daily Official List of The NSE.
Access Bank’s updated shares
With the listing of the additional 6.6 billion units of ordinary shares arising from the Scheme, the total issued and fully paid up shares of Access Bank Plc has now increased from 29 billion to 36 billion ordinary shares of 50 Kobo each.
Expected Banking Experience With Access Bank Plc
By successfully effecting the highly anticipated merger, Nairametrics understands that Diamond Bank Plc and Access Bank Plc have successfully combined efforts to bring the power of banking to millions of account holders across Nigeria and beyond.
Henceforth, it is expected that much emphasis will be on the need for speedy and secured service delivery. Also, the partnership is expected to ensure that customers of both banks continue to experience the best banking experience, with zero disruptions to normal banking services.
New Era For Access Bank Plc
Access Bank Plc provides various financial products and services primarily to individuals, multinationals, corporates, and institutional and non-institutional clients in Africa and Europe.
It operates through four segments: Corporate and Investment Banking, Commercial Banking, Personal Banking, and Business Banking.
Incorporated in 1989, the company now has over 300 branches. The bank is also currently one of the five largest banks in Nigeria in terms of assets, loans, deposits, and branch network.
Source: Daily Post