The Ghana Stock Exchange ended the first quarter of this year as the best performing stock market in Africa with an annual return of 14.62% in dollar term for investors.
The impressive performance of the market translated into an improved market capitalization of GH¢57.16 billion at the end of March this year.
The GSE has two categories of listing, namely, the mainboard and the Ghana Alternative Market (GAX).
The GAX, operated as a parallel market since 2015, is aimed at small and medium-sized enterprises with strong growth potential.
Currently, the types of stocks listed on the GSE are common stocks (ordinary shares), preferred stocks (preference shares), and exchange traded funds.
With such an impressive feat, some listed companies have lost interest in GSE as others have also been kicked off the stock market.
From 2017 to 2021, these seven companies have no longer been trading on the GSE.
Mechanical Llyod Plc
Mechanical Lloyd Plc has announced the company’s delisting from the Ghana Stock Exchange.
The offer results and delisting was approved by the Ghana Stock Exchange and took effect last Friday, 16 April 2021.
The shares of Mechanical Lloyd Plc will no longer be traded on the stock exchange after successfully delisting.
The company delisted to re-strategize and become more profitable.
PZ Cussons Ghana Limited (PZC) delisted from the Ghana Stock Exchange (GSE) effective October 19, 2020. The offer results and de-listing have been approved by the GSE.
According to PZ Cussons Ghana, the decision to delist was in line with the company’s plans to achieve operational efficiency by giving its management more time and resources to focus on running and expanding the business, its distribution network and its reach, thereby ensuring consumer satisfaction
The Ghana Stock Exchange (GSE) delisted Pioneer Kitchenware Ltd (PKL) from the main equity market of the Exchange effective January 14, 2019.
According to a statement from the GSE, the decision to delist Pioneer Kitchenware Ltd is based on Rule 13 of the GSE Listing Rules.
Under Rule 13(1) of the GSE’s Listing Rules, “the Council may at any time and in circumstances as it thinks fit, suspend or cancel a listing and shall do so to protect investors and to ensure an orderly market”.
GSE compulsorily delisted PKL to safeguard investor interest.
African Champion Industries
Ghana Stock Exchange (GSE) compulsorily de-listed African Champion Industries Limited (ACI) from the Main Market of the Exchange at the end of September 2018.
The GSE deemed the financial situation of ACI to be significantly threatening. It de-listed ACI under Rule 13(1) of the GSE’s Listing Rules.
The rule states that, “the Council may at any time and in circumstances as it thinks fit, suspend or cancel a listing and shall do so to protect investors and to ensure an orderly market”.
The Ghana Stock Exchange (GSE) compulsorily delisted Golden Web (GW) from the main market of the Exchange at the end of September this year.
The decision, according to management of the GSE, was based on Rule 13 of the GSE Listing Rules.
“Under Rule 13(1) of GSE’s Listing Rules, the Council may at any time and in circumstances as it deems fit, suspend or cancel a listing and shall do so to protect investors and to ensure an orderly market.”
Transaction Solutions Ghana
The Ghana Stock Exchange (GSE) delisted Transaction Solutions Ghana from the bourse for breaching aspects of the regulations governing the operations of listed companies. Transaction Solutions Ghana Limited took effect from April 3, 2018
The Ghana Stock Exchange (GSE) suspended the listing status of UT Bank (GSE: UTB) following its licence being revoked and subsequent takeover by GCB. The GSE indicated that UT Bank had failed to publish its financial results since the end of its financial year December 31, 2015.