Business News of Monday, 6 January 2020Source: www.citibusinessnews.comADB gets approval to raise GH¢127 million from GATThe Agricultural Development Bank (ADB)The Agricultural Development Bank (ADB) has announced that it has received approval to issue in excess of 39 million ordinary shares to the Ghana Amalgamated Trust (GAT) to raise GH¢127 million in order to help meet its minimum capital requirement. According to the Ghana Stock Exchange, trading of ADB shares will not be suspended during the offer period. When the process is completed, the total number of ordinary ADB shares in issue will amount to 300,798,407. Ghana Amalgamated TrustThe Ghana Amalgamated Trust was established by the government to provide funding support to well-run local banks that were unable to meet the BoG’s GH¢400 million minimum capital requirement. Ghana Amalgamated Trust, or GAT, will be getting the funds from the finance ministry after dropping a plan to raise the money through a bond sale.

Source: GhanaWeb January 06, 2020 13:52 UTC