Accra, Ghana//-First Atlantic Bank PLC has ended Ghana Stock Exchange’s seven-year listing drought, following the successful completion of its Initial Public Offering (IPO).
The IPO recorded an oversubscription, signalling strong investor confidence in the Bank’s fundamentals and growth outlook. Since the listing of MTN Ghana on the GSE, the local bourse had not listed any entity on its main market until this December.
The offer, which closed on Friday, 4 December 2025, attracted broad participation from both institutional and other investors. The Bank was subsequently listed on the GSE on Friday, 19 December 2025, and its shares commenced trading on the same day.
The shares of newly listed Bank currently trade with a codename FAB, and they closed higher on their first day of trading on the Ghana Stock Exchange on Friday, gaining 0.40 pesewas to end the session at GH¢7.70.
In her welcome address at the official listing ceremony of the First Atlantic Bank PLC and its IPO, Managing Director of the Ghana Stock Exchange, Madam Abena Amoah, and her staff, who were in celebratory mood, described the event as: “This is the day the Lord has made.
Today is a historic occasion. It is the listing of First Atlantic Bank PLC. Today’s ceremony also coincides with the 35th anniversary of the founding of the Ghana Stock Exchange, as well as the 10th anniversary of our Ghana Fixed Income Market. 2025 is indeed a very special year for us.
It is a landmark moment for Ghana’s capital market as it is the first Initial Public Offering (IPO) of equity since 2018. For seven years, our market hasn’t seen an equity IPO. What is a stock exchange if it doesn’t ring the bells for IPOs? So, today is a historic moment in GSE’s history, she said.
Madam Amoah added that it marks the new chapter of growth for both the banking sector and for the capital market, revealing that today’s IPO comes at a very special time when the GSE financial stock index which measures the performance of the financial companies on the market, is showing investor interest and confidence with a year-to-date return as at December 16, 91.65 per cent.
Overall equity index is at 78 per cent so far this year, one of the best, if not best, performing markets in the world, she told business leaders, regulators, shareholders, among others, at the event.
Madam Amoah re-emphasised the significance of the event, saying they have eagerly anticipated the return of IPO activity to the market, and the First Atlantic Bank has made sure that that aspiration today is a reality.
She thanked the board and management of the Bank for breaking the ground, breaking the genes and paving the way for others to follow.
“It is a signal of market confidence. This listing signals renewed confidence in the GSE as a credible and reliable platform for companies to raise capital and to support wealth and value creation.
The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, who attended the event with his two deputies- First Deputy Governor, Dr Zakari Mumuni, and Second Deputy Governor, Mrs Matilda Asante-Asiedu, described the listing as “a significant milestone as it’s the first listing on the GSE in over seven years”.
Dr Asiama, who was the Special Guest of Honour and the keynote speaker, emphasised the First Atlantic Bank’s strong growth prospects and strategic direction.
To this end, he said: “By taking this step, First Atlantic Bank is strengthening its capital base, broadening ownership, and contributing to the deepening of Ghana’s capital market. It reinforces confidence in the financial system and supports building a more transparent, resilient, and forward-looking financial sector.”
“As Ghana’s economy grows and financial intermediation becomes more sophisticated, we expect more banks to access the equity market, strengthening links between banking and capital-market development. By 2026 and beyond, a more diversified ownership structure will enhance resilience, reduce concentration risks, and support a financial system aligned with national development objectives, Dr Asiama added.
The Managing Director and Chief Executive Officer of First Atlantic Bank, Odun Odunfa, noted that listing represents a significant step in First Atlantic Bank’s optimisation of its strategy, strengthening corporate governance, enhancing regulatory compliance and providing access to long-term capital.
According to him, the Bank has prioritised technology-driven innovation, risk management and compliance, and customer-centric product development to strengthen its competitiveness in Ghana’s banking sector.
While attributing the oversubscription of the offer to the reflection of the Bank’s consistent financial performance underpinned by sustained profitability, balance-sheet growth, and continued investment in digital banking infrastructure.
