Nigeria, Dec. 20 -- Access Holdings will tap the private placement market to draw privileged investors to its new capital raise programme, through which it plans to mobilise N40 billion in foreign currency, following an emergency general meeting on Thursday.

The proposed share sale gives room to one or more or two investors to acquire the shares at N20.25 each in accordance with terms and conditions to be set later, Nigeria's biggest banking group said in a statement.

"The board of directors be and is hereby authorised to consider, negotiate, approve, and finalise the list of potential private placement investors; determine the structure, valuation, modalities, and timeline for the private placement," it stated further.

Access Holdings...