HFC Brokerage Services has announced that the first phase of the HFC Bank Private Placement which was for only the top ten shareholders of the Bank officially came to an end on Friday, March 05, 2010.
The placement was to issue 86,400,000 ordinary shares to raise US$30,000,000 at US$0.35 or GH¢0.50 per share. At the end of the offer, GH¢12,427,489.32 was raised, culminating in a total of 24,800,706 ordinary shares.
The only two of the top ten shareholders that participated in the Placement were Social Security and National Insurance Trust (SSNIT) and Ghana Union Assurance. These shareholders increased their shareholdings in HFC Bank by 18,016,698 ordinary shares and 6,784,008 ordinary shares respectively.
The new number of issued shares of HFC Bank therefore becomes 152,733,065 ordinary shares.
Issued in Accra, this 22nd
day of March, 2010.