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COCOBOD has told Citi Business News it is yet to take a decision on whether it will sell its shares in HFC Bank.

COCOBOD currently has 5.57 percent shares in HFC bank.

Cocobod’s assertions comes at a time when majority shareholder in HFC Bank, Republic bank, has been given the green light by the Securities and Exchange Commission (SEC) to make a mandatory takeover offer to other shareholders in HFC Bank as part of moves for a mandatory takeover.

Republic Bank is offering shareholders of HFC bank Ghc1.60 per share as against the 1 cedi 30 pesewas price it is currently going for on the Ghana Stock Exchange.

Speaking to Citi Business News, Public Affairs Manager of Cocobod, Noah Amenyah said Cocobod will soon decide on what move to take.

“Cocobod has not come to that decision, others could sell their shares but Cocobod has not come to that decision to sell off its shares in HFC Bank. We have not even as a company discussed our shares in HFC Bank and we have not taken a decision to vary our position as it were.”

Noah Amenyah said because the company’s board has not even discussed the issue, it is difficult for them as a company to say they may even sell their shares in future.