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ADB reopens IPO to enable listing on Ghana Stock Exchange

ADB reopens IPO to enable listing on Ghana Stock Exchange
Source: Ghana | Myjoyonline.com | Abubakar Ibrahim
Date: 24-11-2016 Time: 01:11:42:pm

The Agricultural Development Bank Limited (ADB) have announced the re-opening of its Initial Public Offer (IPO) to enable it to list on the Ghana Stock Exchange (GSE).

The public share offer of ADB (the Offer) consists of:

1. a sale of 69,326,036 existing ordinary shares of no par value at GHC2.65 per share;

2. an offer for subscription of 75,471,698 new ordinary shares of no par value at GHS 2.65 per share issued and fully paid; and

3. a listing by introduction of 86,125,488 existing ordinary shares (collectively “the ADB Shares”) on the Ghana Stock Exchange (GSE)

Shares can be bought at any ADB branch, any Standard Chartered Bank branch, IC Securities (Ghana) Limited or any Licensed Dealing Member of the Ghana Stock Exchange.

Each application under the IPO must be for a minimum of 100 ADB Shares amounting to GHS 265.00 and in multiples of 1 ADB Share thereafter.

The Offer opens Thursday, November 24 and closes on December 5, 2016, at 12:00 p.m. 


Details on the IPO are contained in the Offer Prospectus which can be obtained from any ADB branch, Standard Chartered Bank branch, IC Securities (Ghana) Limited and any Licensed Dealing Member of the Ghana Stock Exchange or www.adbipo.com.