CAL Bank (-8.45%) moderated the GSE Composite Index by 3.62 points (-0.19%) to begin the week at 1,884.03 with a year-to-date return of -16.53% while the market capitalization decreased by 0.07% to settle at 52.79 billion.

Consequently, the GSE Financial Index tumbled 6.69 points (-0.39%) to close at 1,718.65 with a -14.90% year-to-date return while the SAS Manufacturing Index was unchanged at 2,599.53 with a year-to-date return of -25.33%.

Trading activity strengthened as 124,060 shares valued at GH¢80,419 changed hands from 28,914 shares valued at GH¢40,903.12 in the previous session. CAL Bank dominated trades by volume and value, accounting for 80.77% of the total volume traded and 81.01% 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.