The Securities and Exchange Commission (SEC) has told Citi Business News it is awaiting official communication from Agricultural Development Bank (ADB) over moves to resume their Initial Public Offering (IPO).<\/p>\n
[contextly_sidebar id=”c3bExj6cJEjZCHssW8fL8m3VfTfBQu5R”]According to SEC, the offer documents by ADB are still valid unless the bank makes additional changes to allow for the resumption of the IPO.<\/p>\n
Director General of\u00a0 the Securities and Exchange Commission, Dr Adu Anane Antwi told Citi Business News, an official communication will pave way for a new date to be set for the IPO.<\/p>\n
\u2018\u2019The offer has been launched already except that now that they have gotten back, management should be approaching us to reach a new date on which the\u00a0 offer will end since there has been no information to the public, it means the old document is valid.\u2019\u2019<\/p>\n
ADB\u2019s plan to resume its IPO follows UNICOF\u2019s decision to withdraw its suit at the Supreme Court seeking to place an injunction on the bank\u2019s IPO.<\/p>\n
The union had claimed that ADB failed to follow due process in preparing a prospectus to list on the Ghana Stock Exchange to sell more than 74 million existing shares and 75 million new shares.<\/p>\n
\u2018\u2019If there is any information that has come and is not in the prospectus, we still have a way of informing the public about it\u2019\u2019 . Dr Anane Antwi stated.<\/p>\n
–<\/p>\n
By: \u00a0Lorrencia Nkrumah\/citifmonline.com\/Ghana<\/p>\n
<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The Securities and Exchange Commission (SEC) has told Citi Business News it is awaiting official communication from Agricultural Development Bank (ADB) over moves to resume their Initial Public Offering (IPO). [contextly_sidebar id=”c3bExj6cJEjZCHssW8fL8m3VfTfBQu5R”]According to SEC, the offer documents by ADB are still valid unless the bank makes additional changes to allow for the resumption of the […]<\/p>\n","protected":false},"author":14,"featured_media":45790,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[19],"tags":[4],"class_list":["post-145242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/145242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=145242"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/145242\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/45790"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=145242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=145242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=145242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}