The benchmark index was up 7.08 points (+0.38%) to close at 1,872.77 with a year-to-date return of -17.03% while the market capitalization increased to 52.84 billion.

The GSE Financial Index gained 13.07 points (+0.77%) on the back of Ecobank Transnational (+16.67%), closing the session at 1,719.73 with a -14.85% year-to-date return in spite of a price depression in Enterprise Group (-0.70%).

The SAS Manufacturing Index remained unchanged at 2,599.53 with a year-to-date return of -25.33%.
Trading activity strengthened as 281,900 shares valued at GH¢325,695 changed hands from 85,632 shares valued at GH¢53,668 in the previous session. Enterprise Group dominated trades by volume and value, accounting for 70.95% of the total volume traded and 87.20% 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.