The Securities and Exchanges Commission (SEC) says it is yet to receive an official document from the Agricultural Development Bank (ADB) indicating the bank’s decision to continue with the launch of its Initial Public Offer (IPO).
[contextly_sidebar id=”IlOVFgJkdct6BY0B4XwjaYHCRnT70ltR”]The Communications and Marketing Manager of ADB, Solomon Adu Atisso has stated that the bank expects to launch the IPO by the end of this month.
His comment followed concerns on whether or not the latest decision by the bank to sack some of its workers will affect the launching of the IPO.
Several attempts by the ADB to go ahead with the IPO had also been unsuccessful due to some law suits and procedural constraints.
Speaking to Citi Business News, the Director General of the Securities and Exchanges Commission, Dr. Adu Anane Antwi said,
“They wrote to us that they were suspending it and we agreed so they must come back to us and recommend they want to continue …we are waiting for them to inform us that they want to commence.
Dr. Anane Antwi added the process may only be delayed if new information is served by ADB.
He added, “The documents have been approved already if they have been any new information, they will just attach that information they will recommend, we are not going to go through any elaborate procedure.”
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By: Pius Amihere Eduku/citifmonline.com/Ghana