Energy Commercial Bank Limited has rescheduled the date for the closure of its Initial Public Offer (IPO) which was expected to end on Friday 2nd November 2018.
The new date set by the Energy Commercial Bank for the closure of its IPO is November 16, 2018, and it comes after the approval for extension by the Securities and Exchange Commission.
A circular by the Ghana Stock Exchange indicates that the listing of all Energy Commercial Bank shares will take place on 18th December 2018 instead of the earlier arrangement of 6th December 2018.
Energy Commercial Bank is seeking to raise GH¢340 million from the Ghanaian investing public and as such the bank is floating over 261 million new shares at cost of GH¢1.30 per share.
According to Energy Commercial Bank, the minimum number of shares which can be subscribed to, under the offer, is 100 shares amounting to GHc130.00 and in multiples of 10 thereafter.
Meanwhile, Energy Commercial Bank shares can be purchased at any branch of Energy Commercial Bank Limited, UBA, Zenith Bank, UMB, Ecobank Ghana, IC Securities Ghana Limited and any Licensed Dealing Member of the Ghana Stock Exchange.
