First Atlantic Bank PLC (FAB) is set to strengthen its balance sheet and accelerate its strategic push for regional growth with a significant Initial Public Offer (IPO) and subsequent listing on the Ghana Stock Exchange (GSE).
The prospectus, dated November 17, 2025, details the offer of up to 101,667,519 ordinary shares at an Offer Price of GHS 7.30 per share, aiming to raise up to GHS 742,172,888.70 in total proceeds.
The public offer, which commenced on November 24, 2025, and is scheduled to close on December 5, 2025, is a dual-component transaction.
It includes both an issuance of up to 22,602,740 new ordinary shares (Subscription Shares) and a sale of up to 79,064,779 existing shares by current shareholders (Sale Shares), representing approximately 22.6% of the bank’s existing equity.
The Listing Date for the Offer Shares and all existing shares is tentatively set for December 19, 2025.
Capital Injection to Fund West African Growth
The rationale for the IPO is centered on enhancing the bank’s competitive position and executing its long-term strategy. The net proceeds from the issuance of new shares will be utilized to raise additional working capital to finance FAB’s regional expansion strategy and to strengthen its overall capital base.
This move is also aligned with a stated policy objective of the Bank of Ghana to promote the public listing of local banks and encourage domestic financing.
FAB operates as a full-service universal bank, providing a comprehensive suite of financial products across diverse segments, including prestige and private banking, corporate banking, personal and business banking, public sector banking, and digital financial services.
The bank’s strategy is built on four core pillars: digital transformation, operational excellence, regional expansion, and a strong commitment to Environmental, Social, and Governance (ESG) principles.
Digital Focus and Transaction Team
First Atlantic Bank highlights its robust multi-channel distribution network, emphasizing digital financial services available 24/7 through channels like FAB cards (VISA & Mastercard), Mobile Money, Internet Banking, and the First Atlantic Ghana Mobile app.
The bank, which was converted to a public company limited by shares on November 7, 2025, is committed to becoming a digital leader in the Ghanaian and West African banking space.
The IPO is being steered by a team of prominent financial and legal advisers. Amber Securities LTD is acting as the Manager, with First Atlantic Brokers LTD (a subsidiary of the Issuer) and IC Securities (Ghana) LTD serving as Sponsoring Brokers.
PKF Ghana is the Reporting Accountant, while Bentsi-Enchill, Letsa & Ankomah are the Legal Advisers. Guaranty Trust Bank (Ghana) LTD (GT Bank) is serving as the Escrow Agent for the offer.
The Issuer Board, led by Board Chairman Amarquaye Armar and Managing Director/CEO Odun Odunfa, has accepted responsibility for the information contained in the Prospectus. The bank has advised prospective investors to pay particular attention to the detailed risk factors and to consult with professional investment advisers.
This article was edited with AI and reviewed by human editors
