Business News of 2014-09-02

Meridian Marshall to list on GAX

Barring any last minute hitches, the Ghana Alternative Market (GAX) will see its first listing by the end of this year.
Director-General of the Securities and Exchange Commission, Adu Anane Antwi tells Citi Business news ‘GAX will see its first listing by the beginning of the last quarter of this year’.
This follows the submission of the prospectus for listing of Meridian Marshall, the first company to list on the market, to the Securities and Exchange Commission (SEC) the industry’s regulator.
The Ghana Alternative Market provides a listing avenue for small-and medium-scale enterprises that may not meet the requirements for listing on the main bourse.
Meridian Marshall early this year sought the Listing Support Fund from the Ghana Stock Exchange to quicken the process for listing.
Director-General of the Securities and Exchange Commission, Adu Anane Antwi tells Citi Business news it is currently the only application they have received and his outfit is working expeditiously on it.
“Per our rules, we approve documents in six weeks and we are working hard to shorten that. Once we look at that and there are no issues that they have to add on or resolve, it will not take that long”, he said.
Meanwhile other companies including Intravenous Infusions Limited, Juaben Oil Mills, Domod and Processed Food and Spices have expressed interest in listing on the Ghana Alternative Market.
Source: Citifmonline
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