Access Bank Ghana has officially launched an Initial Public Offer (IPO) for prospective investors to buy shares in the Bank and be a part of its growing fortunes.
The launch follows approval from the Securities and Exchange Commission (SEC) and the Ghana Stock Exchange (GSE) to undertake an Initial Public Offering and subsequently list on the Ghana Stock Exchange.
Access Bank hopes to raise a minimum amount of GHs104 million to support its growth and expansion strategies when the offer opens from 19th October to 11th November,2016.
Prospective investors are required to purchase a minimum of one hundred shares at GHC4.00 per share.
Launching the IPO, the Managing Director of Access Bank Ghana, Mr. Dolapo Ogundimu said, “there is the need to grow capacity to take advantage of the opportunities that have emerged from running successful operations in Ghana so far.”
“In addition, we are seeking to expand our operations by making new investments in branch expansion,robust technology and other infrastructure which will enable us fulfil our commitment to deliver superior banking services to our valued customers and stakeholders”.
Mr. Ogundimu stated that Access Bank has strengthened its resolve to build a truly sustainable bank that offers superior value to shareholders, customers and the communities it serves and that it’s positive growth trajectory and consistent financial performance over the past seven years provides adequate basis for prospective investors to buy shares in the Bank.
He named African Alliance Securities and Chapel Hill Denham Securities as Lead Managers and Sponsoring brokers for the IPO.
Commenting on this milestone, the Chairman of the Board of Directors, Mr. Frank Beecham expressed optimism about the exercise and belief of the Bank in the potential of Ghana’s economy.
He noted: “Access Bank is here to stay for the long haul and we encourage both private and institutional investors to participate in this offer and own apart of one of the fastest growing banks in Ghana”