LISTING REQUIREMENT FOR SHARES
A company applying for listing on the Main Board of any class of its shares is, as a general rule, expected to meet the following requirements:
- Minimum Stated Capital: It must have a stated capital after the public floatation of at least GHc1million in the case of an application relating to the First Official List and GHc0.25 million for the GAX.
- Minimum Public Float: Shares issued to the public must not be less than twenty-five per cent (25%) of the number of issued shares of the company.
- Payment of Shares: Shares must be fully paid for: Except in very exceptional circumstances, the Exchange will refuse listing in respect of partly paid shares.
- Spread of Shares: The spread of shareholders existing at the close of an offer should be in the GSE’s opinion adequate with at least 100 shareholders after the public offer for the Main Board and 20 for the GAX.
LISTING REQUIREMENT FOR DEBT SECURITIES
A company or institution seeking the admission of debt securities to the GSE may be considered for such admission if the security concerned has a total issue amount of not less than GHc1million face value of there are at least 50 holders of such securities.
In the case of government securities, there is no prescribed minimum in respect of either amount of issue or number holders to permit admission to the GSE’s list.
Debt securities for which listing is sought shall be created and issued pursuant to a Trust Deed duly approved by Securities and Exchange Commission.