Ghana Club 100 software company, Persol says its return to complete processes to list on the Ghana Stock Exchange ‘may be sooner than expected.’

Persol recently suspended, at the 11th hour, an application to float shares to the public with a promise to reapply on a later date.

Michael Quarshie, Managing Director of the leading software developer in Ghana which provides systems integration and IT consulting services, told www.myjoyonline.com that Persol suspended the process to take advantage of the lull in activity to consider other options and exploit other opportunities, insisting that the company will certainly bounce back.

Persol received approval from the Ghana Stock Exchange and was about to get the nod from the Securities and Exchange Commission (SEC) when it wrote to the regulators to withdraw the application with the intention of re-introducing the offer after completion of an internal reorganization exercise.

The company, reputed to be the first and only Microsoft Gold Certified Partner (Independent Software Vendor (ISV Category) in Ghana, is also the only software developer listed on the Ghana Club 100 (the elite club of companies known for good corporate governance, transparency and corporate social responsibility), and has made the elite club list for companies in Ghana for two years running (2004,2005).

Michael Quarshie explained that ‘over the lengthy period that Persol has pursued a listing, the landscape has changed significantly. New opportunities and challenges have arisen, creating an urgent need to consider new strategies for competing in the marketplace.’

‘Our products, market position and growth prospects have caught the attention of other institutional investors and private equity firms both local and foreign which may also necessitate a re-think of our funding strategies. Certainly we have not abandoned our plans to list and we will certainly come back to the market’, a release from Persol also affirmed.