Competition among institutional investors to maintain or increase their shareholding could work in favour of companies embarking on right issues. Three banks, SG-SSB, Cal Bank and Ecobank Ghana have secured approval to raise additional money publicly from their shareholders. In total, these banks want to raise over GH¢130 million between the end of September and October. This could be challenging task for various reasons, some of which are complaints that there is no money in the system, and on-going private placement as well as right issues by non-listed foreign banks who must meet the new minimum capital of GH¢60 million by December. Even more important is the fact that this is the time investors prefer to sell their shares and make some money instead of investing. While recognizing these challenges, the Head of Research at IC Securities Richard Agala says there are other factors that could impact positively on the offers. IC Securities is a sponsoring broker for two of the three banks who have secured approval to begin the right issue. Play attached audio for voice of IC Securities' Richard Agala Source: Joy Business/Ghana