Cabinet Approves Listing of Graphic Communications Group on GSE

Back to Business on The Move
Cabinet Approves Listing of Graphic Communications Group on GSE

Share this post

Cabinet Approves Listing of Graphic Communications Group on GSE

Cabinet Approves Listing of Graphic Communications Group on GSE

The Cabinet has approved the listing of Graphic Communications Group Limited on the Ghana Stock Exchange in a bid to recapitalise the firm.

Recent reports had it that Graphic Communications was not making enough revenue to meet its commitment, which included the payment of salaries, pension contributions, and unresolved end-of-service benefits for retired staff.

During a working visit to the firm, the Minister for Information, Fatimatu Abubakar, said the move to list Graphic Communications on the Stock Exchange seeks to modernize the operations of the media outlet.

“Looking at the pros and cons, there was a Cabinet decision that it [Graphic Communications Group Limited] should be listed. In furtherance of that decision, the [Information] Ministry has been engaging the boards of the two agencies or companies and also engaging some of our key stakeholders to see how best we can execute the listing.

“There have been some speculations in the system saying that the president wants to sell the company to this private individual or the other but that is far from the truth.

“In fact, as we speak now, not a single investor has been approached or expressed interest. We are still going through the phase of engaging the services of a transactional advisor, opening it, and listing it, so we are saying it so that if you have an interest, you can even start preparing to see how best you can apply to acquire shares in the company.”

Source: Citinewsroom

Back to Business on The Move