Cal Brokers Exit Stock Exchange

CAL BROKERS Ltd

CAL BROKERS Ltd, a subsidiary of CAL Bank Limited, has requested to exit the brokerage business in Ghana.

The company, a local licensed dealing member (LDM) of the Ghana Stock Exchange (GSE) with a strong client relationship of key local and offshore investors, has also announced its intention to resign from the membership of the GSE.

Cal Brokers Ltd made this known recently in a public statement to the GSE and market players.

Despite its significant experience in managing and executing stock exchange transactions, the company wrote: “This is to inform the market and the general public that pursuant to Section seven and eight of the GSE Membership Rules, CAL Brokers Limited has informed the GSE of the decision of its shareholder and Board of Directors, of their intent to resign from the membership of the GSE and leave the brokerage business.

“Accordingly, the Council of the Exchange will consider the application, and further information would be provided in due course of an approved timetable for the cessation process.”

The application is, however, pending approval from the Council of the Exchange which has confirmed receipt.

Should the GSE give its nod to the request, Cal Brokers Ltd would discontinue its operation as a brokerage firm on the Accra bourse.

The company’s decision to exit the GSE is said to be a normal business decision and not connected with any regulatory breaches.

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