Minority Spokesperson on Finance, Cassiel Ato Forson, has revealed he will not be surprised at the number of investors the Agyapa Mineral Royalties deal will attract.
According to the Ajumako Enyan Essiam legislator, despite the Minority’s reservations about the deal, it has the tendency to pull people when listed on the stock exchange market.
“The return on investments will be big because it appears juicy and I will not be surprised if it is oversubscribed after listing,” he said on Asempa FM’s Ekosii Sen show, Tuesday.
However, he noted the Minority will not buy into the deal because it lacks transparency, adding there must be adequate documentation.
“We want to be clear on the transaction and demand the prospectus of shares before listing. We also want to know the selection processes for the board and the recruitment firm used to aid our independent probe ,” he added.
He stressed Ghana’s assets have been “grossly undervalued” in the agreement per current information available to them.
Mr Forson further reiterated the Minority’s stance to put the London Stock Exchange and the Financial Conduct Authority on notice that the agreement does not meet the minimum requirement of diligence and transparency and minimum requirements of Ghana’s constitution.