Access Bank’s Ghana Unit Plans to Sell Stake of About 19% in IPO

October 7, 2016

Access Bank’s Ghana unit plans to raise 104 million cedis selling shares in an initial public offering in the West African country, Jacob Aidoo, the head of issuers at the Securities and Exchange Commission, says by phone.

* Co. to sell shares at 4 cedis each;
* Lender can sell shares representing as much as 32% of company if demand outstrips supply;
* Access Bank Ghana may start process for IPO by end of year;
* Access Bank Ghana MD Dolapo Ogundimu wasn’t immediately available to comment. Source: Bloomberg