CalBank PLC has completed a successful renounceable rights issue, raising GHȼ145 million following the resolution of legal challenges against its GHȼ600 million rights offering.
The rights issue involved an offer of over GHȼ2 billion shares at GHȼ0.29 per share, with a ratio of 1 offer share for every 0.3 existing shares held by qualifying shareholders.
Despite receiving subscriptions for over 500 million shares, the funds raised fell short of the maximum target but exceeded the minimum threshold of GHȼ120 million threshold.
The bank stated that the proceeds from the rights issue will be deployed to support its growth initiatives and enhance long-term shareholder value.
The successful completion of the rights issue marks a pivotal moment for CalBank PLC, which continues to strengthen its position in the financial market and pursue strategic expansion opportunities.
