The Agricultural Development Bank Limited (ADB) has announced the commencement of its Initial Public Offer (IPO) which will enable it list on the Ghana Stock Exchange.
The public share offer consists of a sale of 74,888,369 existing ordinary shares of no par value at GHS 2.65 per share; 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 a listing by introduction of 80,563,155 existing ordinary shares (collectively “the ADB Shares”) on the Ghana Stock Exchange.
According to the bank, shares could be bought at its branches across the country, 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 10 ADB Shares thereafter,” it said in a statement.
The Offer which commenced July 3, 2015 at 9:00GMT would close at 17:00 GMT on August 21, 2015
According to the bank, further details on the IPO are contained in the Offer Prospectus which can be obtained from any ADB branch, any Standard Chartered Bank branch, IC Securities (Ghana) Limited, any Licensed Dealing Member of the Ghana Stock Exchange or www.adbipo.com.
It advised that before deciding whether to apply for the ADB Shares, one should consider whether the Shares are a suitable investment.
“Their value can go down as well as up. Past performance is not necessarily indicative of future performance. If you need advice, you should consult a suitable professional advisor,” the statement proposed.
By: Kasapafmonline.com/Ghana
