Revving up the Ghana Stock Exchange; A Corporate Law Analysis
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The exchange was incorporated in July with trading commencing in It currently lists 42 equities from 37 companies and 2 corporate bonds.
Criteria for listing include capital adequacy, profitability, spread of shares, years of existence and management efficiency. In it was the best index performing stock market among all emerging marketsgaining As of December 31,the GSE's market capitalization wasInthe index appreciated by The manufacturing and brewing sectors currently dominate the exchange.
A distant third is the banking sector while other listed companies fall into the insurancemining and petroleum sectors.
Most of the listed companies on the GSE are Ghanaian but there are some multinationals. Although non-resident investors can deal in securities listed on the exchange without obtaining prior exchange control permission, there are some restrictions on portfolio investors not resident in Ghana. The current limits on all types of non-resident investor holdings be they institutional trading process of the ghana stock exchange individual are as follows: The limits also exclude trade in Ashanti Goldfields shares.
These restrictions were abolished by the Foreign Exchange Act, Act Capital gains on securities listed on the exchange will remain exempt from tax until The exemption of capital gains applies to all investors on the exchange. There are no exchange control regulations on the remittance of trading process of the ghana stock exchange investment capital, capital gains, dividendstrading process of the ghana stock exchange payments, returns and other related earnings.
Potential changes at the exchange include the introduction of automated trading and the listing of some state banks. The Bank of Ghana plans the development of mutual funds, unit trusts and municipal bonds at a subsequent date. These changes are aimed at making the exchange more relevant, efficient and effective. The exchange was also involved in preparing the draft law on collective investment vehicles.
The exchange has pre-market sessions from 9: The websites of licensed dealing members, or "LDMs", of the Ghana Stock Exchange typically include detailed information about the exchange, daily rates, company research and further links. Licensed brokers of the GSE include:. From Wikipedia, the free encyclopedia.