PBC To Buy Back Own Shares On GSE

The Produce Buying Company (PBC), a major cocoa purchasing company, is to buy back some of its shares on offer on the floor of the Ghana Stock Exchange in a re-purchase scheme aimed to encourage increased trading in the company's shares.

Mr Emmanuel Owusu Boakye, Managing Director of the Company, who announced this said the Board of Directors of the company had already approved the scheme that would inject the necessary liquidity for PBC shares and afford the shareholders the opportunity to trade in their shares.

It would also serve as an investment for the company. He was speaking at the "Facts Behind the Figures" programme organised by the Ghana Stock Exchange to enable listed companies to explain issues behind their annual performance so that the investing public could be kept well informed.

Mr Boakye said the Board and Management were convinced in their decision that the acquisition of PBC shares at the current market price was a prudent investment in view of the company's strong performance and the prospects for future growth. "The company's shares repurchased shall be resold on the exchange at a later date," he explained.