Accra, Ghana//-Ghana Stock Exchange (GSE) has announced that it is working hard to launch a new market by the end of this June.
The Managing Director of Ghana Stock Exchange, Ms Abena Amoah, who disclosed this during a workshop to some Institute of Financial and Economic Journalists (IFEJ) members, explained the new market would attract rural and community banks and other businesses to the GSE.
“We plan to launch our OTC Market on June 21, 2024, a testament to our commitment to a strong innovation pipeline and diversifying our offers to deepen the market”, she said.
According to her, the GSE has developed a framework for what they call Enlisted Public Companies.
Public companies whose securities are freely transferrable, and they are not listed within the exchange and know the benefits of listing exchange.
The new market Ms Amoah added would able businesses to know where the share price is, who to go for to buy and sell, and can find a broker easily, among others.
She believes that this Over-The-Counter (OTC) market on the GSE OTC market which they will be outdooring at the end of June, is an important solution, especially for our rural and community banks.
The over 100 rural and community banks in the country with public companies would be supported to raise additional capital, Ms Amoah said.
We have shareholders who want to buy more or sell their shares, this new market is the best platform to turn to, she stressed.
Ms Amoah therefore appealed to the rural and community banks and other businesses to take advantage of the new market which will be launched by the end of this month to raise the needed resources to grow their businesses.
