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Ghana's StanChart to offer 96 mln-share bonus issue

Wednesday, 10 Oct 2012 | 12:31 AM ET

ACCRA, Oct 10 (Reuters) - Standard Chartered Bank Ghana

will offer a bonus issue of more than 96 million shares to its existing shareholders in a move to broaden shareholder base and raise liquidity, the bank said in a statement on Wednesday.

"Following the approval by Standard Chartered Bank Ghana Limited shareholders...the company is pleased to announce a bonus issue of 96,256,070 ordinary shares of no par value," read the statement released via the Ghana Stock Exchange.

The issue will be in a ratio of five new shares for every one existing share held. Investors must hold shares before an ex-bonus date of November 9 to qualify for the bonus issue, the statement said.

The bank's net profit for the first half of 2012 rose 46 percent compared to the same period in 2011, the company said in July.

(Reporting by Christian Akorlie; Editing by Joe Bavier)

((joe.bavier@thomsonreuters.com)(+225 07074101))

Keywords: STANDCHART GHANA/SHARES

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