CalBank and investors are pushing the Rights Issue well beyond expectations.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

CalBank’s latest capital-raising effort has delivered a dramatic outcome, with investors pushing the Rights Issue far beyond expectations and signalling a powerful show of confidence in the bank’s long-term direction.

The exercise raised GH¢1.164 billion against an approved target of GH¢900 million, exceeding it by 29.4%.

A total of 1,799 shareholders subscribed to the offer, marking one of the strongest investor responses the bank has recorded in recent years.

The offer opened on November 3, and closed on November 21, for GH¢0.29 per share.

The momentum spilt into the Private Placement as well, attracting more than GH¢500 million in committed capital.

CalBank described the investor turnout as a firm endorsement of its brand, governance, and growth strategy.

Source: newsthemegh.com