The GSE Composite Index commenced the week flat at 2,207.95 with a year-to-date return of 13.72% while the market capitalization stayed at GH¢57.06 billion.
The GSE Financial Index was unchanged, closing at the previous session’s level of 1,864.75 with a year-to-date return of 4.60% while the SAS Manufacturing Index remained at 1,619.23 with a year-to-date return of -4.83%.
Trading activity weakened as 4,588 shares valued at GH¢7,467 changed hands from 13,143,926 shares valued at GH¢10,913,908 in the previous session. GOIL Company dominated trades by volumes and value, accounting for 53.81% of the total volumes traded and 49.93% of the total value traded.
We anticipate activity levels to increase.
Tender Offer to Qualifying Shareholders
Mechanical Lloyd PLC (GSE: MLC)
Pursuant to regulation 15 of the GSE Listing Rules, Mechanical Lloyd Plc (MLC ) is undertaking a tender offer, on behalf of the Promoters, to Qualifying Shareholders to purchase all their outstanding 16,900,487 ordinary shares at an offer price of GH¢0.10 per share.
Shareholders of MLC approved to delist the Company from the Ghana Stock Exchange at the Company’s 28th Annual General Meeting, held on 15 October 2020.