CFAO & ABL to delist from Accra bourse

Posted by on January 17, 2011 at 1:00 pm in Business, Other Top Stories, Stock Market

Automobile dealer CFAO is set to formally de-list from the Ghana Stock Exchange. Trading in the company’s stock on the bourse will as a result end by March 18.

It follows a vote by shareholders in 2009 by a special resolution to take the company off the exchange. The move is part of a global plan by CFAO to get out of all stock exchanges in Africa.

Shareholders who have not been able to dispose of their shares will from January 24 have an opportunity to do so. CFAO will be offering four Ghana pesewas per share at the existing price.

It represents twice the current share price of two pesewas.

Meanwhile, ABL also expressed a decision to de-list from the Ghana Stock Exchange this year, according the company’s Public/Media Relations Officer, Miss Adjoba, owners of the company are taking a decision on that and believes it will de-list by the second quarter of the year 2011.

Source: Joy Business/Ghana

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