{"id":276218,"date":"2016-12-12T14:41:30","date_gmt":"2016-12-12T14:41:30","guid":{"rendered":"http:\/\/citifmonline.com\/?p=276218"},"modified":"2016-12-12T14:41:30","modified_gmt":"2016-12-12T14:41:30","slug":"bog-still-owns-9-5-percent-stake-in-adb","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/12\/bog-still-owns-9-5-percent-stake-in-adb\/","title":{"rendered":"BoG still owns 9.5 percent stake in ADB"},"content":{"rendered":"
The Bank of Ghana (BoG) is to still own a stake in the Agricultural Development Bank (ADB) despite the completion of the bank\u2019s Initial Public Offer (IPO) early this month.<\/p>\n
[contextly_sidebar id=”IbXYzSPPAh6GehetGekVNmx36YQg1ePO”]It follows the inability of ADB to achieve a full subscription of its Initial Public Offer<\/a><\/strong> on Monday, December 5th<\/sup>, 2016.<\/p>\n The Bank of Ghana currently possesses a 9.5 percent stake in ADB; prior to that, it had 48.17 percent stake in the bank.<\/p>\n \u201cWe had hoped to raise about 200 million net into our operations and we achieved that; what happened is that the existing shareholders (Bank of Ghana) who had hoped to sell off their shares completely I think will still end up holding some shares so what will go to them is what will reduce,\u201d Managing Director of ADB, Daniel Asiedu told Citi Business News<\/strong> in an exclusive interview.<\/p>\n \u201cBut technically speaking, it doesn\u2019t affect how much we are seeking and we are believing that overtime, it will sold to the public on the secondary market,\u201d he added.<\/p>\n