Access Bank Plc plans to raise about N70.343bn from the capital market through public offering of 4.721billion ordinary shares of 50 kobo at N14.90 per share.
The bank had after the endorsement of the shareholders for the offer at an extra-ordinary general meeting in May applied and received the approval of the Nigerian Stock Exchange for the offer. But the offer price has been kept a secret.
However, competent market sources told the Punch yesterday that Access Bank Plc. would offer the shares at N14.90, which translates to a discount of N4.42. The bank’s stock is currently under technical suspension at a price of N19.32.
So what does this mean?
Is the 'discount' a deciding factor or is there more to ask before an investment is made concerning the stocks?
There are a few stocks also out there competing for your money - What analysis are you relying on to make that call?
While you are pondering on this - check out the investment opportunities in the market http://www.proshareng.com/myproshare/portal_articles.php?id=1108
We will like to know what you think of the Access Bank Plc Public Offer and your decision criteria.