GSE To Encourage More Listings

The Ghana Stock Exchange (GSE) will go all out this year to sustain the inflow of new listings on the floor of the market. It will also ensure that the automation of the trading system gets underway by the end of the fiscal year.

Mr. K.S. Yamoah, Managing Director of the GSE reviewing the market activities for the year 2004, stated that the management of the exchange would equally intensify its public awareness and education programmes so that the public had a better appreciation of the activities of the exchange.

He said that the stable macro-economic environment witnessed last year, coupled with the outstanding performance of many listed securities and an unprecedented high demand for shares by the local investing public, led the market to achieve yet another good performance for 2004.

Mr. Yamoah said this was a plus for the exchange, and that it must be sustained in the coming years.

During the year under review, there was also a record of five news listings on the bourse, including one provisional listing.

Six major corporate actions were recorded on the floor of the exchange: one merger, one take-over, two rights issue and two bonus issues.

The GSE all-share index moved from 3,553.42 points to 7,045.40 points representing a gain of 91.33 per cent for 2004, which is clearly above the prevailing annual interest equivalent on 91-day treasury bills of 17.8 per cent at last year.

The index gain was also above the rate of inflation of 12.3 per cent as at the end of November last year.