The Ghana Stock Exchange (GSE) has for the first time in almost two years registered the first company- Asante Gold to be listed on the local bourse.
This was announced by the Ghana Stock Exchange after the Asante Gold met all statutory requirements from the Securities and Exchange Commission (SEC) as well as the regulation requirements of GSE.
Meanwhile, the mineral resources firm, Asante Gold Corporation, floated about 350 million shares onto the Ghanaian stock market. However, the company is therefore listing by ‘Introduction’ since it is already trading on the Canadian Stock Exchange (CSE).
Reacting to the listing of the Asante Gold Corporation on the GSE, Douglas MacQuarrie, Non-Executive Chairman of Asante Gold, expressed her excitement over the event noting that it will help the local investors.
“It is with a great sense of ‘having arrived’ that Asante is now listed on Ghana’s premier stock exchange, one of the best performing stock exchanges in Africa in 2021. This listing complements our listings in Canada and in Germany and provides our Ghanaian shareholders, and potential new investors, the opportunity to invest and trade their shares locally in Ghana.”
Douglas MacQuarrie
Chief Executive of Asante Gold, Dave Anthony, also lauded Ghanaian investors for their trust in the company and for buying the company’s shares.
“Asante has significant ownership by both private Ghanaian investors and Ghanaian institutions, and the company is excited to be able to offer Ghana’s investment community and all interested investors the opportunity to participate in our growth as we work to achieve our vision of becoming a Tier-1 gold producer in West Africa.”
Dave Anthony
Advisors of Asante Gold Corporation
Black Star Advisors Limited and Black Star Brokerage Limited acted as Arranger and Sponsoring Broker respectively to Asante Gold in respect of the listing on the Ghana Stock Exchange.
The domestic market has not seen any new listing in a long time until the decision by Asante Gold Corporation to list some 350 million shares.
According to Asante Gold, the decision is borne out of calls by local investors to have some participation in the company due to its contribution to the country’s revenue stream.
Frederick Attakumah, Executive Vice President and Country Director for Asante Gold Corporation, disclosed that it is the desire of the company to have Ghanaian investors take part in the local firm.
Ekow Afedzi, Managing Director of the Ghana Stock Exchange, on his part, expressed excitement and hope to use the new local content policy to get more gold refinery companies to list on the stock exchange.
Though the local bourse has not been at its best since the turn of the year, many experts predicted it to bounce back in the 3rd and 4th quarter. All things being equal, it is timely for the Asante Gold to go public on the Ghana Stock Exchange.
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