Ghana’s Biggest Cocoa Buyer Delays Rights Offer to Next Year
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Produce Buying Co., Ghana’s largest buyer of cocoa beans from farmers, postponed a sale of shares until the first quarter of 2014 as it waits for approval from the government, Managing Director Kojo Atta-Krah said.
“The rights issue is at cabinet level, we are expecting approval to come in November,” he said in an interview in Accra on Oct. 18. The offer will be for at least 150 million cedis ($68 million), Atta-Krah said. The West African nation, including the state pension fund, owns about 75 percent of the company.