Since May 28, 2024, the Mauritian-incorporated company, Tengen Holdings (Mauritius) Limited, has acquired approximately 59.403 million shares of Access Holdings, valued at roughly N1.012 billion.
According to corporate disclosures on the NGX website, Tengen Holdings initially purchased 45 million units of shares at N17 per share on May 28.
The company then purchased an additional 14,402,633 units at N17.20 per share on May 30.
Aigboje Aig-Imoukhuede, the Non-Executive Chairman of Access Holdings Plc and Herbert Wigwe jointly founded Tengen Holdings in December 2013, after Aig-Imoukhuede’s exit as the CEO of Access Bank.
As one of his first tasks upon returning to leadership, Aig spoke nostalgically about his experience as Group CEO of Access Bank Plc during the last recapitalization exercise.
He noted during the AGM, “The amount we have mentioned today, is large and significant, and the capital raising efforts we’re pursuing is a significant step in your company’s history and future.”
“However, I’d like to remind shareholders that between August 2004 and 2007, you may recall that cumulatively, in a period of two and half years, we raised $2 billion in equity together. So, it is not new for us to come to you like this and for us together to succeed in such capital raising effort.”
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