ADB IPO Adhere to rules of the stock market - Yamoah tells ADB

The Managing Director of the Ghana Stock Exchange Kofi Yamoah, mentioned that every company after listing on the stock market are expected to do three basic things.

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The Managing Director of the Ghana Stock Exchange Kofi Yamoah, has urged Agriculture Development Bank (ADB) to adhere to the rules binding companies that have listed on the stock market.

Mr Yamoah was speaking at a ceremony to officially signify ADB’s listing on the stock market.

He mentioned that every company after listing on the stock market are expected to do three basic things.

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These are “to use proceeds from IPO for exactly what it was raised for, to keep investors updated on the happenings in the company and to work on paying dividends to its shareholders.”

play MD of GSE, Kofi Yamoah

 

He further stated that even though ADB listed recently on the stock market he believes their shareholders will be looking forward to having dividends any time soon, especially after they start holding shareholders meeting.

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The Managing Director for ADB Daniel Asiedu assured the general public that they will comply with all the laid down rules.

play MD of ADB, Daniel Asiedu

 

He said their financial statement will be ready by March 31, 2016 as demanded by the GSE.

The bank officially started trading on the Ghana Stock Exchange on December 12, 2016.

This follows the bank’s successful completion of its Initial Public Offer. It raised GHS325,784,952.70.