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Business News of Tuesday, 3 September 2013

Source: The Independent

GSE to commence all projects soon

The Ghana Stock Exchange (GSE) is hopeful to commence various projects it has initiated by the end of this year.

Though it is yet to kick-start the Ghana Alternative Market or GAX, the Accra Bourse is confident the market for small businesses will take off before the end of the year.

It is also hopeful to commence a programme for the review of its Rules for Membership, Listing, Trading and Surveillance as well as Clearing and Settlement.

According to the Managing Director, Kofi Yamoah, “while continuing to pursue new listings in the equity and corporate bond category, we will follow through discussions towards actualising the listing of other new products such as index-based derivatives.” This was part of the GSE 2012 Annual General Meeting.

In 2012, total market capitalisation and the domestic market capitalisation went up by 21 and 22 percent respectively to close at GH¢57.26 billion and GH¢6.12 billion respectively.

The market also witnessed significant improvement in liquidity. Ecobank Ghana, Enterprise Group, Fan Milk, PZ Cussons and Societe Generale witnessed significant activity of their shares.

Meanwhile, the GSE is reviewing its guidelines for companies which want to delist from the market.

A number of companies have exited the market after years of poor performance. The new regulations will give minority shareholders a bigger voice when their companies want to delist.

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