Fidelity Bank Ghana Limited is set to hold a virtual Extraordinary General Meeting on October 26, 2026, at 11:00 a.m. GMT to seek shareholder approval for its Initial Public Offering and proposed listing on the Ghana Stock Exchange. The meeting, to be held via Microsoft Teams, will consider several ordinary and special resolutions. Shareholders will review proposals authorizing the Board of Directors to undertake the IPO and list the bank's shares on the Main Market of the Ghana Stock Exchange.
The special resolutions include authorizing the Board to determine the IPO terms, such as the offer price, number of shares, allotment, and other modalities. Shareholders will also consider adopting an IPO-compliant Constitution to replace the company's existing constitution. Furthermore, the bank seeks approval to transfer GH¢36 million from its stated capital and undertake a bonus issue of up to 732,250,000 ordinary shares to existing shareholders in proportion to their shareholdings.
In addition to the special resolutions, the bank is seeking approval for several ordinary resolutions. These include authorizing the Board to establish a directors' reward scheme, under which 1,100,000 ordinary shares valued at approximately GH¢11,000,000 will be granted to existing directors. The Board also seeks approval for an employee share ownership plan, reserving up to 1.5 per cent of the bank's post-IPO equity for allotment to eligible employees at a discounted price.
Under the employee share ownership plan, 2,600,000 ordinary shares valued at approximately GH¢26,000,000 will be granted for a token sum to qualifying employees with ten or more years of service. The notice stated that members entitled to attend and vote can appoint a proxy to attend the virtual meeting and vote instead of them. A proxy need not be a member, and the form of proxy must be completed and emailed accordingly.
The Company Secretary, Akosua Apea Osafo, signed the notice informing shareholders of the upcoming virtual meeting. Shareholders will consider and vote on the proposed resolutions, enabling the bank to move forward with its IPO and GSE listing plans. The meeting's outcome will determine the next steps for Fidelity Bank Ghana's potential listing on the Ghana Stock Exchange.
If the resolutions are approved, Fidelity Bank Ghana will join the growing list of Ghanaian companies listed on the GSE. The bank's listing will provide an opportunity for investors to participate in the country's banking sector. The IPO and listing will also enhance the bank's visibility and credibility in the market.
The virtual EGM will be a crucial milestone for Fidelity Bank Ghana as it progresses with its IPO and GSE listing plans. Shareholders' approval of the proposed resolutions will pave the way for the bank to execute its strategic plans and create value for its stakeholders. The meeting's outcome is expected to have a significant impact on the bank's future growth and development.
Key points
- Fidelity Bank Ghana to hold virtual EGM for IPO and GSE listing approval
- Shareholders to consider ordinary and special resolutions for IPO and listing
- Bank seeks approval for directors' reward scheme and employee share ownership plan
