Agricultural Development Bank (adb) has secured Cabinet’s approval to list on the Ghana Stock Exchange.
Joy Business has gathered the green light was secured in April this year.
adb has already gotten consent from the Bank of Ghana, its biggest shareholder, to kick start the process on the local bourse.
adb’s plans to go public had been delayed due to its inability to secure government’s approval in the past .
Speaking to Joy Business after the Annual General Meeting of the Ghana Stock Exchange , Managing Director , Kofi Yamoah says ADB’s listing would go a long to bring about some excitement on the market.
He adds that stock market is still the best avenue for raising long term finance.
If ADB’s plan materializes this year, it would join other government institutions like GOIL, GCB and SIC that have listed on the Ghana Stock Exchange.
Three companies are preparing to list on the alternate market of Ghana Stock Exchange by end of the third quarter of this year.
Processed Food and Spices and Meridian Marshalls and Intravenous Infusions have already accessed capital from the listing fund to come onto the market.
Managing Director of GSE, Kofi Yamoah told Joy Business the local bourse is committed to encouraging more small to come onto the market.
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