First Atlantic Bank Set to Break Seven-Year IPO Drought on GSE

The Ghana Stock Exchange (GSE) has welcomed First Atlantic Bank as the institution begins the formal process to list on the Main Market through an Initial Public Offering (IPO), following regulatory approval. If completed, it will become the first equities IPO on the Exchange since 2018, signalling renewed momentum in Ghana’s capital market.

GSE Managing Director Abena Amoah described the development as a significant vote of confidence in the Exchange. “We are pleased to welcome First Atlantic Bank on its journey towards listing on the Ghana Stock Exchange. This important step underscores growing confidence in our market and reinforces our commitment to supporting institutions to raise capital,” she said, adding that the Exchange appreciates the work of the advisors involved in bringing the transaction this far.

The GSE is also encouraging more companies to consider the capital market as a viable channel for both short- and long-term financing, especially at a time when businesses are seeking patient and sustainable funding.

Established in 1990, the GSE operates multiple markets catering to a broad range of issuers and investors, including the Main Market for large corporates, the Ghana Alternative Market for SMEs, the Fixed Income Market for government and corporate bonds, as well as platforms for commercial paper and sustainable bonds.

First Atlantic Bank’s proposed listing is expected to generate strong interest from investors and could open the door for more companies to pursue equity listings, further deepening liquidity and strengthening Ghana’s financial market.