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Become a Ghana Stock
Exchange Listed Company

The GSE community of listed companies is a collection of businesses and investors guided by a dedication to professionalism, excellence, and transparency to create an efficient securities market for national economic development through access to capital and investment.

A company is said to be listed when its securities are approved to be bought and sold on the Stock Exchange. Newly issued shares cannot trade in the Over-The-Counter (OTC) Market before getting listed on the GSE, you need to communicate this intention early to the GSE and work with the Exchange’s listing requirements before the public flotation.

Listing on the GSE
How To List, Ghana Stock Exchange

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How to get listed

 

  1. First, the shareholders must meet and agree (pass a resolution) to change from a private company to a public one limited by shares.
  2. The company with the help of external solicitors or in-house lawyers prepares a new company constitution which conforms to that of the Companies Act and also meets the listing requirements of the Ghana Stock Exchange.
  3. The new Constitution is discussed with the GSE and if found satisfactory, filed with the Registrar of Companies.
  4. The company’s board will also have to appoint a team of advisors to assist the company to prepare its offer document. The team will include brokers, lawyers, reporting accountants, financial valuation advisors, etc.
  5. The draft reports of the advisors are then discussed. Key decisions such as the price of the share to be sold, the proportion of shares of the company to be sold, etc. will have to be taken by the shareholders.
  6. An application to list on the GSE together with supporting documents will have to be submitted and at the same time, the draft public offer prospectus will have to be submitted to the Securities & Exchange Commission (SEC) for approval.
  7. Once the regulatory approvals in (6) are obtained, a date is set for the launch of the public offer.
  8. At the end of the offer, if it is successful, allotment is done and applicants are advised.
  9. The company then agrees on a date for the listing and commencement of trading of its shares on the GSE.

Our Value Proposition: Issuers

Improved Company Visibility

  • Going Public on the GSE  improves a Company’s Visibility
  • Media coverage received from local and international news wires boosts the company’s profile 

Increased Legitimacy

  • Listed companies receive legitimacy from all stakeholders and have a better image and reputation. 
  • GSE listed companies find that the perception of their financial and business strengths are improved

Access to Long-term Capital

  • The markets provide access to both long term debt and equity growth capital.
  • Capital raised on the markets tend to be more patient.

Liquidity

  • Shareholders have the opportunity to realize some of their investments in the company. 
  • The GSE unlocks the value of investments through the establishment of a market price

Alignment of Shareholder/Management Interest

  • Simplified process of remunerating directors, executives and employees with shares.
  • The company is able to align rewards with the goals of the company, which boosts performance of employees.

Additional Value

  • Listing on the GSE provides transparency and efficiency to the operations of a company.
  • Listing enables a company to know its market value, which is very useful for M&A discussions.

Our Value Proposition: Investors

Investor Protection

  • The GSE has compliance requirements in place to ensure full disclosure of information by issuers to investors
  • The Exchange also regulates the conduct of market players to ensure fairness

Diversification

  • The market offers access to a wider spread of securities including equities, Government Bonds, Corporate Bonds, and Exchange Traded Funds (ETFs)
  • The market also offers sector and industry diversifications in investment options

Long-Term Returns

  • Investing in GSE’s products helps to provide sustainable long-term returns to investors.
  • Capital raised on the markets tends to be more patient.

Liquidity

  • Investors are easily able to convert their securities into cash 
  • The GSE is an intermediary that enables pools of investment funds available for trading

Price Discovery

  • The GSE offers trading platforms and mechanisms for price discovery in markets
  • This helps to provide transparency for investors and ensures a fair market