HFC Bank increases stated capital
HFC Bank has increased its
stated capital from GH¢45million to GH¢95 million as the result of the
private placement the bank undertook to shore up its minimum capital
requirements as stipulated by the Bank of Ghana. The bank has
therefore added 112,420,246 ordinary shares to the company’s number of
issued shares bringing the total number of issued shares to
296,080,918.
The bank’s shareholder’s funds have equally increased to GH¢129 million and this has changed the shareholding structure.
The
existing shareholders which comprises Social Security and National
Insurance Trust, Aureos Africa Fund and Ghana Union Assurance took a
total of 70.82 per cent of the amount offered while a new investor,
Republic Bank of Trinidad took up 29.18 per cent.
Republic Bank of Trinidad is the largest financial institution on the Caribbean with total assets of over US$7 billion and has ove