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- Written by Online Chart GH
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The Ghana Stock Exchange Suspended Trade in Bank Shares ADB Limited ( GSE: ADB ), a day after the cancellation of the holdings of four institutional shareholders of the bank.
The suspension, which took effect today, Tuesday, means investors can not buy or sell shares of the bank until further notice.
This is the third time that the GSE suspends transactions on shares of the agricultural lender following its success on the stock market in December 2016.
The suspension followed a harsh action by the Bank of Ghana which canceled the challenges of four institutional investors in the AfDB.
The institutions concerned are Belstar Capital, Starmount Development Corporation, SIC Financial Services Limited and EDC Investment Limited.
The central bank explained that its investigations showed that the purchase of ADB shares by the firms and Belstar Capital's relationship with uniBank Ghana Limited (currently under administration) was in breach of certain aspects of the law on banks and special deposits. 19659005]
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