Citi Business News has gathered that Energy Bank will by the middle of this year offload more than 50 percent of the bank’s share on the Ghana Stock Exchange.
The bank is planning to hold its Initial Public Offer in June.
The move is aimed at raising funds to meet the new capital requirement of 400 million cedis announced by the Bank of Ghana.
Citi Business News has also learnt that the lead sponsoring broker is IC Securities. Energy Bank will be the second bank that will go to the stock market this year to raise funds after Access Bank applied to also raise funds from the stock market.
Energy Bank Ghana Limited was incorporated in September 2009 as a privately owned institution.
The Bank is licensed to carry out Universal Banking services.
The bank formally commenced operations on 22nd of February 2011.
It is expected that more banks will go to the Stock Market to raise additional funds to meet the capital requirement.
Earlier, the Managing Director of the Ghana Stock Exchange Mr. Kofi Yamoah told Citi Business News the performance of banks on the bourse is encouraging, hence more banks are expected to come to the market to raise funds.
By: Lawrence Segbefia/citibusinessnews.com/Ghana