Access Bank Ghana to raise $58 mln via IPO and debt

Access Bank Ghana plans to raise $26 million through an initial public offering (IPO) of shares and another $32 million via a convertible loan to boost its capital, according to IPO documents seen by Reuters on Tuesday.

The local unit of Access Bank of Nigeria plans to sell 136.6 million shares on Ghana’s stock exchange on Nov. 30, giving it a market capitalisation of 546.75 million cedi.

The bank expects 2016 pretax profit of 136 million cedis after making 122.8 million cedis in 2015, the documents showed.


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