Temporary injunction on the Adb Initial Public Offer (“IPO”)
Accra, 13
July 2015 – Subject to an Order of Interim Injunction filed by the Union of Industry Commerce and Finance of TUC Ghana to the High Court of Justice, the Agricultural Development Bank Limited (“ADB”) has announced a temporary halt of its IPO process.
The general public, ADB, Standard Chartered Bank and all Licensed Dealing Members of the Ghana Stock Exchange are required to put on hold all activities in relation to the ADB IPO process including but not limited to the receipt of offer subscriptions.
All ADB Offer applications and payments received prior to this temporary injunction will remain valid until otherwise determined by ADB. Any further press releases relating to the IPO will be relayed to the general public via the Ghana Stock Exchange and/or at least one national daily newspaper.
