PORT OF SPAIN, Trinidad, CMC – Republic Bank says it now controls 40 per cent of the HFC Bank Ghana, after acquiring an additional 7.98 per cent shareholding in financial institution.
In a statement, the Trinidad-based bank said that it purchased 23,638,340 ordinary shares at a price of GHS 0.67 (US$0.31) per share, making it the single largest shareholder in HFC Bank Ghana.
Republic Bank earlier held a 32.02 per cent shareholding in the Ghanaian bank. The share purchase was made on June 26 on the Ghana Stock Exchange and represented shares previously held by Union Bank of Nigeria
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