Bentsi-Enchil, Letsa and Ankomah and SEM Capital appointed legal and financial advisors for GSE demutualization

The ongoing demutualization of the Ghana Stock Exchange has entered its second phase with the appointment of transactional and legal advisors.

At the company’s Annual General Meeting in Accra, Chairman of the Council of the GSE, Anselm Ray Sowah, said these two firms have already submitted a report for onward consideration by shareholders.

They are expected to help the full demutualization of the Exchange.

According to him, all the strategies and plans of the exchange towards a demutualization is on course.

“The demutualization process is ongoing. We have engaged Bentsi-Enchil, Letsa & Ankomah and SEM Group [Capital] as our legal and financial advisors respectively”.

“They have begun work and have already submitted draft transaction documents such as the transaction checklist, financial due diligence as well as the valuation and share distribution plan.”

“The proposed structure and the documents received will in due course be reviewed by the GSE Council, Securities and Exchange Commission and members of the exchange” he told shareholders.