[ 2016-10-18 ]

Access bank goes public
Access Bank Ghana Plc 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 a part of one of the fastest growing
banks in Ghana”.

The Chief Executive Officer of African Alliance
Securities Ghana, Winston Nelson Jr, also urged
interested investors to obtain the prospectus
relating to the offer from any Access Bank branch
in Ghana, the Office of African Alliance,
stockbrokers or online via
www.ghana.accessbankplc.com.

Since beginning its operations in 2009, Access
Bank has remained a catalyst for socio-economic
development in the country, pursuing sustainable
business practices through its business
operations. The share offer is in furtherance of
this commitment.

Source - Starrfm

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