Access Holdings Plc, Nigeria’s largest banking group by total assets, saw negative price movement that reduce its market valuation on the Nigerian Exchange this week.
The sell side activities on the shares of the financial services group that warehouses Access Bank drag the market value of the company downward.
Data from the NGX platform revealed that Access Holdings market price declined to N19 on Friday from N19.95 at the beginning of the week.
At the current price, Access Holdings is trading at more than 38% discount below its 52 week high. During early boom in the equities market, the banking group market value had increased strongly, peaked at N30.70.
According to latest data from the Nigerian Exchange, Access Plc’s 35.545 billion shares outstanding in now worth N675.359 billion.
Access Holdings is yet to release the group results for the second quarter of the year. In a statement, the group said its board met on July 30 to approved audited results for the first half of 2024.
The management said the results will be published once it is approved by the Central Bank of Nigeria (CBN). # Access Plc’s Market Value Falls to N675bn
