CalBank PLC has successfully completed its renounceable rights issue, raising a total of GHȼ145 million.
This follows the discontinuation of the legal action challenging CalBank’s GH¢600 million rights issue.
The offer was for over GH¢2 billion shares at GH¢ 0.29 per share, in a ratio of 1 offer share for every 0.3 existing share held by a qualifying shareholder.
Over 500 million shares were subscribed, raising a total of GH₵145 million, which surpasses the minimum target of GH₵120 million but fell short of the maximum target of GH₵600 million.
According to the bank, proceeds from the offer will be used to support its growth strategy and deliver long-term value to its shareholders.
