Business News of Friday, 13 April 2018
Source: citinewsroom.com
2018-04-13
Kofi Yamoah,
The Ghana Stock Exchange has disclosed that at least four companies are expected to list on the bourse after MTN before the end of this year.
For now, the companies are unknown but the Managing Director of the Ghana Stock Exchange, Kofi Yamoah says the four companies are likely to list on the bourse after MTN.
“For the main market, the most obvious one is MTN which will be towards the quarter of this year that we are in. Our target is four”, he disclosed.
It is anticipated that MTN will be listed on the GSE by June 2018.
The listing of the telecommunication network will also form part of its fulfillment of obligations following the acquisition of the 4G spectrum license in 2015.
Mr Yamoah in an interview with Citi Business News expressed confident of a positive turnaround of the bourse when these companies come on board.
“Some of the companies would not want early publicity whilst still in the early stages but as soon as they are able to submit documents formally, we will be able to share that with the public and we believe they will make a great impact when they come on board,” he assured.
Stock market analysts had early this year predicted of a positive growth of the Ghana Stock Exchange this year.
The prediction follows a positive performance of the local bourse for last year.
In 2017, the Ghana Stock Exchange witnessed over 50 percent growth.
Nineteen (19) out of the thirty eight (38) listed companies recorded gains for 2017
Also, ten companies recorded no price changes for the year with nine companies recording losses last year.
A further breakdown shows that ten out of the eleven banks that are listed recorded gains for the year under review.