CalBank lists additional shares on Ghana Stock Exchange

CalBank PLC has listed additional shares and commenced trading on the Ghana Stock Exchange as part of its renounceable rights issue.

CalBank PLC completed its renounceable rights issue, raising a total of GH₵145 million. This followed the discontinuation of the legal action challenging CalBank’s GH₵600 million rights issue.

The offer consisted of over two billion shares at GH₵0.29 per share, in a ratio of 1 offer share for every 0.3 existing shares held by a qualifying shareholder.

Over five hundred million shares were subscribed, raising GH₵145 million. This surpassed the minimum target of GH₵120 million but fell short of the maximum target of GH₵600 million.

In a recent statement, CalBank announced the listing and commencement of trading of over four hundred and fifty-five million ordinary shares and over forty-seven million preference additional shares.