Tag: stock exchange
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GCB Bank’s profit increases by 40% to reach GH¢92m in 2020 1st quarter
GCB Bank recorded profit after tax of 92.4 million cedis for the first quarter of 2020; representing a growth of 40%. This was contained in the bank’s published financial results for the period. For the period spanning January to March 2020, GCB Bank’s profit before tax increased by about 34% to record 122.4 million cedis.…
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Dannex, Ayrton & Starwin to start trading on stock market after merger
Pharmaceutical company, Dannex, will on Wednesday, January 15, 2020, start trading on the Ghana Stock Exchange following its merger with two other companies; Ayrton and Starwin. It follows the approval for the deal by the managers of the local bourse. Wednesday’s ceremony will crown a series of principal activities that have spanned over the past…
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Pioneer Kitchenware to go off stock market by year end
The managers of the Ghana Stock Exchange are to remove Pioneer Kitchenware from the database of listed companies on the stock market by the end of 2018. This is because the company has failed to make any progress with reconciling its operational performance with the operators of the bourse despite several notices to do so.…
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SEC approves Energy bank’s IPO to raise GH¢340m
The Securities and Exchange Commission (SEC) has approved for the Energy Commercial bank to issue an Initial Public Offering (IPO) to help it meet the minimum capital requirement for banks. The bank should resort to the investing public to raise 340 million cedis which represents about fifty percent of the company’s stake. Though SEC’s approval…
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Home-based carrier likely to list on stock market – Minister
Aviation Minister, Joseph Kofi Adda has hinted of a possible listing of the new national carrier on the stock exchange to allow the public own a stake in the company. This he says should improve the capitalization of the new entity and make it more efficient. The Minister made the remarks in response to a…
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MTN raises GH¢ 1.146 bn from IPO
MTN has raised a total of 1.146 billion cedis from its Initial Public Offering (IPO). The amount realized from the IPO shows that MTN fell short of its target of 3.47 billion cedis by about 2.3 billion cedis. The telecom company however says the performance is highly commendable considering the volume of the offer. The…
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MTN investors anxious over undisclosed IPO results
Investors who purchased MTN shares are anxious over the seeming delay in announcing the results for the Initial Public Offering. The telecom company concluded its IPO in July 2018 and it is expected to list the proceeds on the Ghana Stock Exchange by September 2018. MTN seeks to raise 3.47 billion cedis from the investing…
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No trading in adb shares for three days
From today, July 17, 2018, investment brokers and other parties interested in the trading of shares of ADB, cannot engage in the service. It follows the suspension of trading activities of ADB by the managers of the Ghana Stock Exchange for three days. The Managing Director of the Ghana Stock Exchange, Kofi Yamoah disclosed this…
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MTN targets GH¢3.47 billion from IPO
MTN is seeking to raise 3.478 billion cedis as it launches its Initial Public Offering (IPO). By this, MTN will cede at least thirty-five percent access to the general public to own a stake in its operations. The move is also aimed at fulfilling regulatory obligation regarding the purchase of one of the 4G spectrum…
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MTN’s $787m IPO to boost local investment market
Investment analysts are hopeful of a boost in investments on the stock market with MTN’s 787 million dollars Initial Public Offer (IPO). In their view, the telecom company’s presence should attract more investors and grow the access to funds. The comments follow MTN’s announcement of reviewing upwards, its target for the IPO. The telecom operator…