Real estate developer, Comet properties says it is re-organizing to take another shot at listing on the stock market by the middle of next year. It follows a failed bid to list on the exchange after it could not raise the required funds during its recent public offer. IPO’s such as Comet could have been successful if the promoters had managed to raise between 20 and 30 percent of the capital they were seeking. Though Comet says this will slow down its planned expansion, other avenues will be explored. Executive Chairman, Nana Odeneho Kyeremanteng tells Joy Business they will still want to turn to the stock market because of the longevity of the funds it provides. He advised other real estate companies to “create equities in their businesses so that they can offload part of it onto the stock.” Nana Kyeremanteng said it was not possible to do any serious real estate business without access to long term funds. The company was looking at raising about 62 million Ghana cedis through the sale of 61.8 million shares at a price of one Ghana cedi per share. Source: Joy Business/Ghana