The benchmark index declined marginally by 6.50 points (-0.34%) to close at 1,877.53 with a year-to-date return of -16.82% as a result of a downward price movement in Standard Chartered (-3.23%) while the market capitalization decreased by 0.12% to settle at 52.72 billion.

Accordingly, the GSE Financial Index was down 11.99 points (-0.70%) to close at 1,706.66 with a -15.50% year-to-date return while the SAS Manufacturing Index remained unchanged at 2,599.53 with a year-to-date return of -25.33%.

Trading activity weakened as 18,815 shares valued at GH¢18,954 changed hands from 124,060 shares valued at GH¢80,419 in the previous session. MTN Ghana dominated trades by volume, accounting for 48.37% of the total volume traded while Standard Chartered dominated trades by value, accounting for 53.02% of the total value traded.

We expect activity levels to increase as investors take advantage of bargain stocks.

Commencement of Tender Offer
PZ Cussons Ghana Limited (GSE: PZC)
PZC has announced the Company’s tender offer to existing Qualifying Shareholders to purchase fully the entire shareholding of each Qualifying Shareholder.

The Offer is in line with the Company’s intention to de-list from the Ghana Stock Exchange (the “De-Listing”) announced on the 18th October 2019. The commencement date for the “Offer” is 6th July 2020.

Offer Price Summary
PZ Cussons Ghana Limited (GSE: PZC)
Section 15(2)(f) of GSE’s Listing Rules requires that the minimum Offer Price must be the higher of the average 12-week market price and the market price on the AGM Date.

The Offer is priced at GH¢0.45 per PZ Cussons Share representing a 15.4% premium above the market price of GH¢0.39, which is the higher of the average 12-week market price and the market price on the AGM Date.