The Ghana Stock Exchange will have to wait a bit more before receiving the Agricultural Development Bank according to recent news regarding its Initial Public Offering, which at the end of March 2016, mobilized a record sum ($119 million) in Ghana. The firm said in a statement it was not in phase with investors who acquired shares available to public.

Twice already, has the Ghanaian government which is the bank’s leading shareholder and sold part of its 52% stake in the financial institution, missed the deadline set to give its approval for the transaction. “Strategic investors to whom shareholders sold their shares, are not agreeing over the IPO’s reference terms,” said ADB’s spokesperson cited by local media.

A new offer should be launched next week, meanwhile, the bank is in talks with state-owned institutionals, namely the Ghana Cocoa Council, the Pension Fund and National Insurance office.

The Ghana Stock Exchange was expecting ADB’s listing to boost its cash-flow.

On Monday 23, 2016, it closed the with a -0.2%, after Ecobank Transnational Incorporated and Total Ghana, which are also listed on this market, registered record slumps. The firm’s share, since the beginning of the year, is presently at -11%.

Idriss Linge