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Business News of Tuesday, 22 June 2004

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Starwin Launched Onto GSE

STARWIN Pharmaceutical Company was launched onto the Ghana Stock Exchange (GSE) last Friday to raise an amount of ?15 billion to expand the company.

Starwin becomes the first Pharmaceutical Company to join the Ghana Stock Exchange through the "fast track approach" of listing on the GSE.

The listing of small and medium scale enterprises is a drive to raise more capital to expand.

Speaking at the function in Accra last Friday, the Senior Minister Mr. Joseph Henry Mensah said the public should be encouraged to invest their surplus funds on to the GSE though the development of attracting investments instruments.

This, he said, was necessary to facilitate the growth of business and enhances economic development. Government, he said, could only encourage the private sector to spearhead economic development in the country.

The acting Chief Executive Officer of the Worldwide Securities Limited, Mr. E. H. Boohene, the lead advisor and sponsoring brokers of Starwin intended to raise ?15 billion through offering ?30million ordinary shares to prospective institutions and individual investors.

The price of a share is ?500.