Citi Business News
No Result
View All Result
Sunday, January 17, 2021
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Devise measures to stop fuel price increment  – COPEC to government

    Business gradually booming for traders at University of Ghana as schools reopen [Video]

    Government must appoint only qualified persons to energy sector boards – COPEC

    Stakeholders in real estate sector confident of a boost in 2021

    Inflation for December 2020 rises to 10.4%; still within revised target

    GIPC begins probe into activities of Chy Century Heng Yue Group

    SEC refers CHY Century Heng Yue Group Limited to EOCO

    Don’t purchase unapproved COVID-19 vaccine – FDA cautions public

    Businesses must abide by regulations to prevent fire outbreaks – Bureau of Public Safety

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Business gradually booming for traders at University of Ghana as schools reopen [Video]

    Government must appoint only qualified persons to energy sector boards – COPEC

    Inflation for December 2020 rises to 10.4%; still within revised target

    GIPC begins probe into activities of Chy Century Heng Yue Group

    SEC refers CHY Century Heng Yue Group Limited to EOCO

    Businesses must abide by regulations to prevent fire outbreaks – Bureau of Public Safety

    The riser platform stands on the Johan Sverdrup oil field off the coast of Norway in the North Sea, on Tuesday, Dec. 3, 2019. Sverdrup's earlier-than-expected start in October broke a long trend of underperformance for Norway's overall oil production.

    AfCFTA and Dangote’s refinery will make fuel cheaper – Energy Consultant

    Key reforms needed to exceed 1.4% World Bank growth forecast – Economist

    AfCFTA: GUTA calls for access to cheaper credit to be competitive

  • TECHNOLOGY

    Huawei Watch Fit; The perfect smartwatch for everyone

    A close look at the Huawei FreeBuds 3; World’s 1st open-fit active noise-cancellation earphone

    Ashigbey urges government to revise telecoms industry laws to boost growth

    Blend tech with fashion with the new Huawei Watch Fit

    Kick back and enjoy immersive entertainment for the whole family with the MatePad T 10s

    Cost of political adverts on social media to rise by 200% in next election – Maximus

    Huawei announces global release schedule of EMUI 11 update

    Experience powerful all-round performance with the New Huawei Y8s

    Hyundai launches first ever electric car in Ghana

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    World Bank plans to invest over US$5 billion in drylands in Africa

    Be proactive to benefit from AfCFTA – AfroChampions urges businesses in Ghana

    GUTA to commence cross-border trading with Nigeria

    Stakeholders charged to eliminate barriers likely to impede success of AfCFTA

    Ghana can benefit from ‎AfCFTA with hemp production – Business consultant 

    GUTA welcomes Nigeria’s decision to reopen its land borders

    C40 Regional Director for Africa, Mr Hastings Chikoko

    Accra and world’s major cities on track to keep global heating to 1.5°C – Report

    Nigeria to re-open land borders soon – President Buhari hints

    World Bank approves $60 million to strengthen resilience of Africa’s agricultural sector

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Devise measures to stop fuel price increment  – COPEC to government

    Business gradually booming for traders at University of Ghana as schools reopen [Video]

    Government must appoint only qualified persons to energy sector boards – COPEC

    Stakeholders in real estate sector confident of a boost in 2021

    Inflation for December 2020 rises to 10.4%; still within revised target

    GIPC begins probe into activities of Chy Century Heng Yue Group

    SEC refers CHY Century Heng Yue Group Limited to EOCO

    Don’t purchase unapproved COVID-19 vaccine – FDA cautions public

    Businesses must abide by regulations to prevent fire outbreaks – Bureau of Public Safety

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Business gradually booming for traders at University of Ghana as schools reopen [Video]

    Government must appoint only qualified persons to energy sector boards – COPEC

    Inflation for December 2020 rises to 10.4%; still within revised target

    GIPC begins probe into activities of Chy Century Heng Yue Group

    SEC refers CHY Century Heng Yue Group Limited to EOCO

    Businesses must abide by regulations to prevent fire outbreaks – Bureau of Public Safety

    The riser platform stands on the Johan Sverdrup oil field off the coast of Norway in the North Sea, on Tuesday, Dec. 3, 2019. Sverdrup's earlier-than-expected start in October broke a long trend of underperformance for Norway's overall oil production.

    AfCFTA and Dangote’s refinery will make fuel cheaper – Energy Consultant

    Key reforms needed to exceed 1.4% World Bank growth forecast – Economist

    AfCFTA: GUTA calls for access to cheaper credit to be competitive

  • TECHNOLOGY

    Huawei Watch Fit; The perfect smartwatch for everyone

    A close look at the Huawei FreeBuds 3; World’s 1st open-fit active noise-cancellation earphone

    Ashigbey urges government to revise telecoms industry laws to boost growth

    Blend tech with fashion with the new Huawei Watch Fit

    Kick back and enjoy immersive entertainment for the whole family with the MatePad T 10s

    Cost of political adverts on social media to rise by 200% in next election – Maximus

    Huawei announces global release schedule of EMUI 11 update

    Experience powerful all-round performance with the New Huawei Y8s

    Hyundai launches first ever electric car in Ghana

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    World Bank plans to invest over US$5 billion in drylands in Africa

    Be proactive to benefit from AfCFTA – AfroChampions urges businesses in Ghana

    GUTA to commence cross-border trading with Nigeria

    Stakeholders charged to eliminate barriers likely to impede success of AfCFTA

    Ghana can benefit from ‎AfCFTA with hemp production – Business consultant 

    GUTA welcomes Nigeria’s decision to reopen its land borders

    C40 Regional Director for Africa, Mr Hastings Chikoko

    Accra and world’s major cities on track to keep global heating to 1.5°C – Report

    Nigeria to re-open land borders soon – President Buhari hints

    World Bank approves $60 million to strengthen resilience of Africa’s agricultural sector

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

PZ Cussons completes delisting from Ghana Stock Exchange

by Bobbie Osei
October 16, 2020
in Local Economy, Markets, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

Almost a year after PZ Cussons Ghana Limited announced its intention to de-list from the Ghana Stock Exchange subject to Shareholder approval, and approval from relevant industry regulators, it has finally completed the process and will no longer be a part of the local bourse effective 19th October 2020.

At the time PZ Cussons announced its decision to delist from the Ghana Stock Exchange in 2019, the company said it was in line with its plans to achieve operational efficiency, by providing management more time and resources to focus on running and expanding the business, its distribution network and reach, thereby ensuring consumer satisfaction.

It also added that the proposed De-Listing was not expected to impact job security, day-to-day operations and relationships with stakeholders.

ADVERTISEMENT

The delisting according to PZ Cussons follows the successful settlement of all tendering shareholders, a process which saw PZ Cussons (Holdings) Limited, mop up shares tendered on the market by shareholders, making the company the majority shareholder now, holding over 160.4 million shares, representing 95.50% of the issued shares of PZ Cussons.

Delisting on GSE: Companies urged to strengthen corporate governance systems

The increasing number of companies delisting from the Ghana Stock Exchange (GSE) has been attributed to the failure of the companies to deliver dividends as well as share price appreciation.

That’s according to the head of Research at Databank, Alex Boahen.

Since 2017, about 8 companies have had their listing on the Ghana Stock Exchange suspended or have on their own initiated their delisting from the local bourse.

While companies like Mechanical Lloyd and PZ Cussons voluntarily delisted, others like Pioneer Kitchenware, African Champion Industries, Golden Web, Transactions Solutions Ghana and UT Bank underwent compulsory delisting.

Speaking on the recent delistings from the local bourse, Alex Boahen, attributed the situation to a plethora of issues including the poor performance of the companies.

“The reason why investors invest in companies is because they want the companies to be profitable so that they can pay dividends to them. They want their share prices to actually appreciate on the market so that they can make capital gains when they sell their stock.  But if you look at it, recently these companies have actually failed to deliver both dividends and also share price appreciation, and it stands to reason that when it gets to a point, it’s probably in the interest of the shareholder and investor community for these companies to actually go off the market so that they can leave the public spotlight and then they can re-strategize and when things actually improve they can always come back and apply and list on the market again.”

While encouraging the about 30 companies still on the local bourse to strengthen their corporate governance systems as well as improve their operations in order to avoid being delisted, Alex Boahen also advised other businesses to consider listing on the Ghana Alternative Market, GAX, to avoid the strict compliance standards of the main market.

“I’ve always seen the call encouraging companies to list on the market as a brilliant idea. I think it needs to be pushed more so that at least we can get a lot more SMEs coming unto the market, especially the GAX. The rules on the GAX market is actually a bit more relaxed than on the main market because even in terms of financial reporting the GAX companies do their reporting twice in a year whiles on the main market, you report four times in a year. So I will advise that some of these companies can repackage themselves and list on the GAX if possible.”

Related Posts

News

Devise measures to stop fuel price increment  – COPEC to government

by Ellen Dapaah

The Chamber of Petroleum Consumers (COPEC) has asked the government to introduce measures to stop the increase in fuel prices....

Read more

Business gradually booming for traders at University of Ghana as schools reopen [Video]

Government must appoint only qualified persons to energy sector boards – COPEC

Stakeholders in real estate sector confident of a boost in 2021

Inflation for December 2020 rises to 10.4%; still within revised target

GIPC begins probe into activities of Chy Century Heng Yue Group

SEC refers CHY Century Heng Yue Group Limited to EOCO

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.