We do not have plans of reducing our holdings - StanChart Chairman
5/17/2012 7:31:41 PM -
The Group Board Chairman of Standard Chartered Bank, Ghana, Sir John Peace has said the company does not have any plans of reducing its holdings in its Ghana branch.
This was after some shareholders of the StanChat bank, Ghana have made proposals for the parent bank to reduce its holdings in the bank.
According to Sir Peace, the bank's decision will improve local investors' ownership in the bank to also enhance the banks' liquidity on the Ghana Stock Exchange. But in an interview with JOYBUSINESS, the Group Chair, Sir Peace was quick to say 'it will be difficult to carry out this request.'
Meanwhile, 70 per cent of the bank's shares are held by the parent bank leaving just 30 percent to be traded on the Ghana Stock Exchange.
The bank from September this year will however issue five additional shares for every share held in its bonus share offer.