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Agricultural Development Banks ADB extends IPO closing date

This was communicated to Pulse Business, after the Securities and Exhchange Commission granted the company an extention to the IPO which was supposed to ended on 26 February, 2016.

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The Agricultural Development Bank Limited has  extended the closing date of  its Initial Public Offering to the 24th of March 2016.

This was communicated to Pulse Business, after the Securities and Exhchange Commission granted the company an extention to the IPO which was supposed to end on  26th February, 2016.

Shares can be bought at any ADB branch, any Standard Chartered Bank (“SCB”) branch, IC Securities (Ghana) Limited or any Licensed Dealing Member (“LDM”) of the Ghana Stock Exchange (“GSE”). Further details on the IPO are contained in the Offer Prospectus which can be obtained from any ADB branch, any SCB branch, IC Securities  (Ghana) Limited, any LDM of the GSE or www.adbipo.com.

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Below is the full notice released by ADB and copied to Pulse Business

 

ADB ANNOUNCES EXTENSION OF IPO OFFER PERIOD

 

Accra, 25th February 2016 – The Agricultural Development Bank Limited (“ADB” or the “Company”) announces that the Securities and Exchange Commission has granted the Company an extension (the “Extension”) to its Initial

Public Offer (“IPO”) Offer Period which was supposed to have ended on 26 February, 2016. As a result of the Extension, the Offer Period will now end on 24 March, 2016.

The revised Offer timetable is as follows:

Activity Date Time

Recommencement of Offer Period                                  23 December 2015 9:00am

End of Offer Period                                                         24 March 2016 5:00pm

 

Application Forms review for allotment commences         29 March 2016 9:00am

 

End of allotment and submission of results to the SEC     11 April 2016 5:00pm

 

Crediting of ADB Shares to successful applicants              18 April 2016 5:00pm

 

Commence dispatching letters to successful applicants     21 April 2016 9:00am

 

Refunds to unsuccessful applicants                                   21 April 2016 10:00am

 

Listing of all ADB Shares. First day of trading on GSE        25 April 2016 10:00am

 

Shares can be bought at any ADB branch, any Standard Chartered Bank (“SCB”) branch, IC Securities (Ghana)  Limited or any Licensed Dealing Member (“LDM”) of the Ghana Stock Exchange (“GSE”). Further details on the IPO are contained in the Offer Prospectus which can be obtained from any ADB branch, any SCB branch, IC Securities (Ghana) Limited, any LDM of the GSE or www.adbipo.com.

Before deciding whether to apply for the ADB Shares, you should consider whether the ADB Shares are a suitable  investment for you. Their value can go up as well as down. Past performance is not necessarily indicative of future performance. If you need advice, you should consult a suitable professional advisor.

ISSUED BY AGRICULTURAL DEVELOPMENT BANK LIMITED

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