The Ghana Stock Exchange has suspended trading in the shares of the ADB Bank Limited, a day after stakes of four of the bank’s institutional shareholders were annulled
This is the third time the GSE is suspending trading in the shares of the
The suspension followed
The affected institutions are Belstar Capital, Starmount Development Corporation, SIC Financial Services Limited and EDC Investment Limited.
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The central bank explained that its investigations showed that the purchase of shares of ADB by the firms and the relationship of Belstar Capital with uniBank Ghana Limited (currently under administration) contravened aspects of the Banks and Specialised Deposits-Taking Institutions Act.
Below is a copy of the statement from the GSE;