CalBank raised GH¢145.84 million through its Renounceable Rights Issue.

A total of 502,915,885 shares were issued by the listed bank.

The offer sought to raise a minimum of GH¢120 million and up to GH¢600 million.

As stated in the Rights Issue Offer Circular, the offer shares were allotted to applicants in the successful applications received from Qualifying Shareholders and their Renouncees in respect of their Rights Entitlement and successful applications received from Qualifying Shareholders and Renouncees for extra shares.

Shares not applied for by Qualifying Shareholders will be offered to interested investors through a private placement.

A circular from the Ghana Stock Exchange pointed out that successful applicants with Central Securities Depository (CSD) accounts will have their accounts credited with their allotment from June 28, 2024.

For successful applicants without CSD accounts, CSD accounts will be created, and their shares will be credited to them from July 1, 2024 or as soon as practicable.

The GH¢145.84 million is expected to shore up the capital of the indigenous bank.