{"id":278082,"date":"2016-12-19T20:43:41","date_gmt":"2016-12-19T20:43:41","guid":{"rendered":"http:\/\/citifmonline.com\/?p=278082"},"modified":"2016-12-19T20:43:41","modified_gmt":"2016-12-19T20:43:41","slug":"adb-attributes-rise-in-share-price-to-investor-confidence","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/12\/adb-attributes-rise-in-share-price-to-investor-confidence\/","title":{"rendered":"ADB attributes rise in share price to investor confidence"},"content":{"rendered":"<p>The Agricultural Development Bank (ADB) has attributed the significant performance of the bank\u2019s share price to investor confidence in the banking stock.<\/p>\n<p>[contextly_sidebar id=&#8221;iDKLFn08DTlqIJs8ODehnHSUdzrAXqSK&#8221;]As at close of trading on Monday, December 19<sup>th<\/sup> \u00a02016, the share price of ADB had gained about 38 pesewas and trading at 3 cedis 33 pesewas.<\/p>\n<p>Also, a total of 10,000 ADB shares were traded on the bourse on Monday.<\/p>\n<p>\u201cWe think that it is the confidence that investors have in the shares of the bank; on the exchange the price is determined by the confidence that investors have and that is what is being played out here,\u201d Managing Director of ADB, Daniel Asiedu told <strong>Citi Business News<\/strong>.<\/p>\n<figure id=\"attachment_66579\" aria-describedby=\"caption-attachment-66579\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-66579 size-full\" src=\"http:\/\/citibusinessnews.com\/wp-content\/uploads\/2016\/12\/bell2.jpeg\" alt=\"Officials ringing the bell to symbolise the listing of ADB on the GSE\" width=\"600\" height=\"373\" \/><figcaption id=\"caption-attachment-66579\" class=\"wp-caption-text\">Officials ringing the bell to symbolise the listing of ADB on the GSE<\/figcaption><\/figure>\n<p>The bank, which was listed on Monday, December 12<sup>th<\/sup> 2016, <strong><span style=\"color: #666699;\"><a style=\"color: #666699;\" href=\"http:\/\/citibusinessnews.com\/index.php\/2016\/12\/13\/adb-lists-commences-trading-on-gse\/\" target=\"_blank\">started with an initial share price of 2 cedis 65 pesewas<\/a>.<\/span><\/strong><\/p>\n<p>Responding to calls by the GSE for listed companies to channel investments into specified areas of their operations, Daniel Asiedu further indicated that the bank would soon <strong><span style=\"color: #666699;\"><a style=\"color: #666699;\" href=\"http:\/\/citibusinessnews.com\/index.php\/2016\/12\/10\/adb-fetches-326-million-cedis-from-ipo\/\" target=\"_blank\">commence allocating the yields from the IPO<\/a><\/span><\/strong> and contribute to its efficiency.<\/p>\n<p>\u201cBefore we came to the exchange, we agreed to the terms and conditions of the exchange and clearly because we are almost ending the year, it is our hope that sometime next year, we will be presenting our investors with updates during the facts behind the figures session,\u201d he remarked.<\/p>\n<p>The Agricultural Development Bank becomes the 40<sup>th<\/sup> company to list on the Ghana Stock Exchange.<\/p>\n<p>It also becomes the eighth bank to list on the GSE.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-66581 size-full\" src=\"http:\/\/citibusinessnews.com\/wp-content\/uploads\/2016\/12\/observers.jpeg\" alt=\"observers\" width=\"600\" height=\"450\" \/><\/p>\n<p>Meanwhile Mr. Asiedu is optimistic of a strong performance in 2017, where the bank will from March, begin publishing its financial statements to its investors.<\/p>\n<p>\u201cWe think that putting this year behind us next year will be very bright; we are going to perform very well all things being equal,\u201d he added.<\/p>\n<p>&#8211;<\/p>\n<p>By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Agricultural Development Bank (ADB) has attributed the significant performance of the bank\u2019s share price to investor confidence in the banking stock. [contextly_sidebar id=&#8221;iDKLFn08DTlqIJs8ODehnHSUdzrAXqSK&#8221;]As at close of trading on Monday, December 19th \u00a02016, the share price of ADB had gained about 38 pesewas and trading at 3 cedis 33 pesewas. Also, a total of 10,000 [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":278083,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[121,32,171,11],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ADB attributes rise in share price to investor confidence - Citi 97.3 FM - Relevant Radio. 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