Tag: SEC
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MTN not to list on GSE with IPO – Kofi Yamoah
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…
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Mines Chamber urges caution on listing multinationals on the Stock Exchange
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…
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Sale of MTN shares to Ghanaians takes off in 2017
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…
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Analysts upbeat about boost in capital market’s growth
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…
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ADB IPO takes off, pegs price at 2 cedis 65 pesewas
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…
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SEC still awaiting MTN’s progress with floating of shares
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…
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More banks to list after Access Bank – Analyst
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…
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Economic fundamentals will boost GAX – SEC Commissioner
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…
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Access Bank to list on the Ghana Stock Exchange
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…
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MTN Ghana yet to commence 35% shares’ float – SEC
Citi Business News is learning that MTN is yet to conclude processes to allow it sell thirty-five percent of its stake in Ghana. This comes despite the Securities and Exchange Commission (SEC)’s acceptance of the telecom company’s decision to float shares to the public and allow local partnership in the company. The move also forms…