Ghana’s Government Cabinet has approved the listing of Graphic Communications Group Limited on the Ghana Stock Exchange (GSE). The move is being done in a bid to recapitalise the company.
Background
Earlier in the year, it was reported that Graphic Communications was failing to meet its revenue targets and had been struggling to make salary payments and pension contributions.
The move to list on the GSE also seeks to modernize the operations of the company.
What They’re Saying
The Information Ministry has been engaging the boards of the GSE and Graphic Communications on how best to execute the listing.
“There have been some speculations in the system saying that the president wants to sell the company to this private individual or the other but that is far from the truth. In fact, as we speak now, not a single investor has been approached or expressed interest.
We are still going through the phase of engaging the services of a transactional advisor, opening it, and listing it, so we are saying it so that if you have an interest, you can even start preparing to see how best you can apply to acquire shares in the company.” Minister for Information, Fatimatu Abubakar.
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