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Tag Archives: SEC

Delays in forming new Boards causing economic losses – Analyst

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Calls for the President to constitute new Boards for key government institutions have intensified due to the potential administrative lapses further delays could cause. The former Director General of the Securities and Exchange Commission (SEC), Dr. Adu Anane Antwi has indicated that Ghana may have lost huge investments at least for the first half of this year. According to Dr. ...

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MTN not to list on GSE with IPO – Kofi Yamoah

mtn

MTN Ghana may not be listing on the Ghana Stock Exchange (GSE) anytime soon even though it plans to cede a part of its operations to investors. This is the indication from the managers of the Ghana Stock Exchange. “MTN in its discussion is raising money from the public or doing a public offer but it will not list as ...

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Mines Chamber urges caution on listing multinationals on the Stock Exchange

Gold

Mining industry players are calling for detailed discussions on the implementation of policies seeking to charge multinationals to list on the Ghana Stock Exchange (GSE). They have cautioned of possible concerns over the likelihood of a reduction in stake for major shareholders (dilution of ownership) of mining companies due to the new law. “I think it is difficult to tell ...

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Sale of MTN shares to Ghanaians takes off in 2017

CEO MTN Ghana,

Telecom giant MTN Ghana will finalize processes to float shares on Ghana Stock Exchange (GSE) this year – 2017. MTN commenced moves to list on the GSE last year – 2016, as part of conditions under which it secured the 4G license in late 2015. The company which spent US$67.5million to acquire the license which is valid for the next ...

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Analysts upbeat about boost in capital market’s growth

GHana stock

Players in the capital market have urged the government to expedite processes to get more multinationals to list on the Ghana Stock Exchange (GSE). They contend that a further delay will rip the country off the numerous benefits accruing from the move. As part of interventions to grow the capital market, the government has announced the scrapping of capital gains ...

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ADB IPO takes off, pegs price at 2 cedis 65 pesewas

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The Agricultural Development Bank (ADB), has re-launched its Initial Public Offer (IPO) after failing to successfully complete the process a number of times. The offer which was re-launched today [November 24, 2016], seeks to raise about 380 million cedis. Managing Director of ADB, Daniel Asiedu who confirmed the re-launch in an exclusive interview with Citi Business News said the bank ...

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SEC still awaiting MTN’s progress with floating of shares

MTN+XXX

Information available to Citi Business News indicate that MTN Ghana is yet to complete processes that will allow it to cede part of its operations to the public. It comes a month after the telecommunication company commenced moves to cede 35 percent of its stake to the public through the floating of shares. Though SEC had accepted the decision by ...

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More banks to list after Access Bank – Analyst

The Managing Director of Access Bank, Ghana Mr. Dolapo Ogundimu

Some stock market analysts are predicting more companies are likely to list on the Ghana Stock Exchange to meet the recapitalization requirement by the Bank of Ghana. The assertions follow the listing of Nigerian Bank, Access bank on the domestic bourse. The bank launched its Initial Public Officer (IPO) on Wednesday, October 19, 2016. The offer is however expected to ...

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Economic fundamentals will boost GAX – SEC Commissioner

Dr. Charles Asembri, SEC

A Commissioner of the Securities and Exchange Commission (SEC), Dr. Charles Asembri, has stressed the need for education and economic improvement, to attract businesses unto the Ghana Alternative Market, GAX. According to him, the objectives to help Small and Medium Scale Enterprises (SMEs) increase their capital and expand, could largely be achieved if such fundamentals are put in place. “The ...

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Access Bank to list on the Ghana Stock Exchange

Dolapo-Ogundimu-MD-for-Access-Bank-Ghana

Appeals by the Securities and Exchange Commission for multinationals to list on the Ghana Stock Exchange may be making inroads as Nigerian owned bank, Access, advances processes to list on the domestic bourse. Information available to Citi Business News indicates that the bank is likely to complete its process by the end of this year after revising its issuing calendar ...

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