IPO proceed

$26 mln

Access Bank Ghana, a subsidiary of Access Bank of Nigeria, launched an initial public share offer last week aimed at raising at least 104 million cedis ($26 million).

Access with headquarters in Nigeria said it would also cut its stake to 78 percent from 100 percent in the flotation, aimed at enabling Access Bank Ghana to become self-funding.

The offer follows approval from Ghana’s Security and Exchange Commission and the Ghana Stock Exchange, with the offer open until Nov. 11.

 

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