{"id":470397,"date":"2011-07-29T09:28:47","date_gmt":"2011-07-29T09:28:47","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/"},"modified":"2011-07-29T09:28:47","modified_gmt":"2011-07-29T09:28:47","slug":"gse-is-3rd-biggest-exchange","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/","title":{"rendered":"GSE Is 3rd Biggest Exchange"},"content":{"rendered":"
\n
\"\"<\/a><\/p>\n

Charles Cofie, a Council Member of the GSE supported by Ian Springett to ring the bell to signal commencement of trading<\/p>\n<\/div>\n

The Ghana Stock Exchange (GSE) became the third biggest stock exchange in Africa on Wednesday, July 27, 2011 after Johannesburg Stock Exchange (JSE) and the Nigerian Stock Exchange (NSE) when Tullow Oil Plc listed approximately 3.5 million shares valued at GH\u00a227.6 billion on the Accra Bourse.<\/p>\n

In this regard, the market capitalization of the GSE shot up from GH\u00a220.4 billion ($13.6 billion) to approximately GH\u00a248 billion ($32 billion). Tullow Oil thus becomes the biggest listed firm on the Accra Bourse.<\/p>\n

Kofi Yamoah, Managing Director, officially admitting Tullow onto the exchange, said the listing of the oil giant will bring immense benefits to the Accra Bourse.<\/p>\n

According to him, Tullow will significantly add to the attraction of the stock market and by extension Ghana to both local and non resident foreign investors around the globe.<\/p>\n

\u201cThe listing is a major and positive responsibility signal that the company is sending out there to the rest of the companies doing business in Ghana.\u201d<\/p>\n

He confirmed that the exchange was poised to address the supply side and the liquidity difficulties so that it can position itself well for pension and other funds to flow through the market to entities that are safe and provide very reasonable returns.<\/p>\n

Ian Springett, Chief Financial Officer, Tullow Oil Plc, for his part, said the listing of Tullow shares in a secondary market gives Ghanaian investors the opportunity to invest in the whole Tullow; in Africa operations, Europe, Asia and South America.<\/p>\n

He noted that Ghana was the heart of its business since it drives its investments decisions and underpins both its presence in Africa and the whole world.<\/p>\n

\u201cI still shake my head in wonder that Jubilee went from discovery to production in just 40 months and I can assure you that when I meet other oil companies including the majors, they speak enviously of the Jubilee Project which has become an industry benchmark for project delivery.\u201d<\/p>\n

He emphasized that Tullow\u2019s commitment meant helping to support the growth of national and local businesses and also businesses entering into the oil industry supply chain together with supporting services.<\/p>\n

Report indicates that the Social Security and National Insurance Trust (SSNIT) subscribed over 70 percent of the 4 million shares. This has raised concern about the potential of the company\u2019s listing to improve liquidity.<\/p>\n

But Mr. Springett told the press that the company was more excited about the long term prospects the listing offers Ghanaians.<\/p>\n

Tullow began trading at GH\u00a231.08 on the first day of trading after demand outstripped supply. The share price then closed at GH\u00a231.08 per share.<\/p>\n

10,147 Ghanaians became part owners of Tullow Oil Plc when the share offer of the company came to end on July 4 2011.<\/p>\n

By Charles Nixon Yeboah<\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Charles Cofie, a Council Member of the GSE supported by Ian Springett to ring the bell to signal commencement of trading The Ghana Stock Exchange (GSE) became the third biggest stock exchange in Africa on Wednesday, July 27, 2011 after Johannesburg Stock Exchange (JSE) and the Nigerian Stock Exchange (NSE) when Tullow Oil Plc listed approximately 3.5 million shares valued at GH\u00a227.6 billion on the Accra Bourse. In this regard, the market capitalization of the GSE shot up from GH\u00a220.4 billion ($13.6 billion) to approximately GH\u00a248 billion ($32 billion). Tullow Oil thus becomes the biggest listed firm on the Accra Bourse. Kofi Yamoah, Managing Director, officially admitting Tullow onto the exchange, said the listing of the oil giant will bring immense benefits to the Accra Bourse. According to him, Tullow will significantly add to the attraction of the stock market and by extension Ghana to both local and non resident foreign investors around the globe. \u201cThe listing is a major and positive responsibility signal that the company is sending out there to the rest of the companies doing business in Ghana.\u201d He confirmed that the exchange was poised to address the supply side and the liquidity difficulties so that it can position itself well for pension and other funds to flow through the market to entities that are safe and provide very reasonable returns. Ian Springett, Chief Financial Officer, Tullow Oil Plc, for his part, said the listing of Tullow shares in a secondary market gives Ghanaian investors the opportunity to invest in the whole Tullow; in Africa operations, Europe, Asia and South America. He noted that Ghana was the heart of its business since it drives its investments decisions and underpins both its presence in Africa and the whole world. \u201cI still shake my head in wonder that Jubilee went from discovery to production in just 40 months and I can assure you that when I meet other oil companies including the majors, they speak enviously of the Jubilee Project which has become an industry benchmark for project delivery.\u201d He emphasized that Tullow\u2019s commitment meant helping to support the growth of national and local businesses and also businesses entering into the oil industry supply chain together with supporting services. Report indicates that the Social Security and National Insurance Trust (SSNIT) subscribed over 70 percent of the 4 million shares. This has raised concern about the potential of the company\u2019s listing to improve liquidity. But Mr. Springett told the press that the company was more excited about the long term prospects the listing offers Ghanaians. Tullow began trading at GH\u00a231.08 on the first day of trading after demand outstripped supply. The share price then closed at GH\u00a231.08 per share. 10,147 Ghanaians became part owners of Tullow Oil Plc when the share offer of the company came to end on July 4 2011. By Charles Nixon Yeboah <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-470397","post","type-post","status-publish","format-standard"],"yoast_head":"\nGSE Is 3rd Biggest Exchange - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"GSE Is 3rd Biggest Exchange - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Charles Cofie, a Council Member of the GSE supported by Ian Springett to ring the bell to signal commencement of trading The Ghana Stock Exchange (GSE) became the third biggest stock exchange in Africa on Wednesday, July 27, 2011 after Johannesburg Stock Exchange (JSE) and the Nigerian Stock Exchange (NSE) when Tullow Oil Plc listed approximately 3.5 million shares valued at GH\u00a227.6 billion on the Accra Bourse. In this regard, the market capitalization of the GSE shot up from GH\u00a220.4 billion ($13.6 billion) to approximately GH\u00a248 billion ($32 billion). Tullow Oil thus becomes the biggest listed firm on the Accra Bourse. Kofi Yamoah, Managing Director, officially admitting Tullow onto the exchange, said the listing of the oil giant will bring immense benefits to the Accra Bourse. According to him, Tullow will significantly add to the attraction of the stock market and by extension Ghana to both local and non resident foreign investors around the globe. \u201cThe listing is a major and positive responsibility signal that the company is sending out there to the rest of the companies doing business in Ghana.\u201d He confirmed that the exchange was poised to address the supply side and the liquidity difficulties so that it can position itself well for pension and other funds to flow through the market to entities that are safe and provide very reasonable returns. Ian Springett, Chief Financial Officer, Tullow Oil Plc, for his part, said the listing of Tullow shares in a secondary market gives Ghanaian investors the opportunity to invest in the whole Tullow; in Africa operations, Europe, Asia and South America. He noted that Ghana was the heart of its business since it drives its investments decisions and underpins both its presence in Africa and the whole world. \u201cI still shake my head in wonder that Jubilee went from discovery to production in just 40 months and I can assure you that when I meet other oil companies including the majors, they speak enviously of the Jubilee Project which has become an industry benchmark for project delivery.\u201d He emphasized that Tullow\u2019s commitment meant helping to support the growth of national and local businesses and also businesses entering into the oil industry supply chain together with supporting services. Report indicates that the Social Security and National Insurance Trust (SSNIT) subscribed over 70 percent of the 4 million shares. This has raised concern about the potential of the company\u2019s listing to improve liquidity. But Mr. Springett told the press that the company was more excited about the long term prospects the listing offers Ghanaians. Tullow began trading at GH\u00a231.08 on the first day of trading after demand outstripped supply. The share price then closed at GH\u00a231.08 per share. 10,147 Ghanaians became part owners of Tullow Oil Plc when the share offer of the company came to end on July 4 2011. By Charles Nixon Yeboah\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/07\/gse.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"GSE Is 3rd Biggest Exchange\",\"datePublished\":\"2011-07-29T09:28:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/\"},\"wordCount\":472,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/07\/gse.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/\",\"name\":\"GSE Is 3rd Biggest Exchange - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/07\/gse.jpg\",\"datePublished\":\"2011-07-29T09:28:47+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/#primaryimage\",\"url\":\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/07\/gse.jpg\",\"contentUrl\":\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/07\/gse.jpg\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GSE Is 3rd Biggest Exchange - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/07\/29\/gse-is-3rd-biggest-exchange\/","twitter_card":"summary_large_image","twitter_title":"GSE Is 3rd Biggest Exchange - Ghanamma.com","twitter_description":"Charles Cofie, a Council Member of the GSE supported by Ian Springett to ring the bell to signal commencement of trading The Ghana Stock Exchange (GSE) became the third biggest stock exchange in Africa on Wednesday, July 27, 2011 after Johannesburg Stock Exchange (JSE) and the Nigerian Stock Exchange (NSE) when Tullow Oil Plc listed approximately 3.5 million shares valued at GH\u00a227.6 billion on the Accra Bourse. 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Ian Springett, Chief Financial Officer, Tullow Oil Plc, for his part, said the listing of Tullow shares in a secondary market gives Ghanaian investors the opportunity to invest in the whole Tullow; in Africa operations, Europe, Asia and South America. He noted that Ghana was the heart of its business since it drives its investments decisions and underpins both its presence in Africa and the whole world. \u201cI still shake my head in wonder that Jubilee went from discovery to production in just 40 months and I can assure you that when I meet other oil companies including the majors, they speak enviously of the Jubilee Project which has become an industry benchmark for project delivery.\u201d He emphasized that Tullow\u2019s commitment meant helping to support the growth of national and local businesses and also businesses entering into the oil industry supply chain together with supporting services. 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