Audio By Carbonatix
The Ghana Stock Exchange (GSE) Council is expected to take a decision on whether share prices should be quoted to four or two decimal places.
At a meeting in Accra recently, involving GSE officials and the brokers, no decision to choose one of the two options was reached. The final decision must be made before the end of June.
However, in an interview with BusinessWeek, Philip Abodoh of First Atlantic Brokerage indicated that trading to two decimal places means there would be changes in value, in which investors would lose huge sums of their investment.
He cited, as an instance, the share price of Super Paper, which trades at ¢225 and when the new cedi is introduced will become 2.25 pesewas, thus causing investors to lose the 0.25 pesewas.
He noted however, that trading to four decimal places means that the losses in old currency and the gain in new cedis will be the same, and there will not be changes in value.
According to him, trading to four decimal places in the new cedi, the Super Paper share will be quoted at 0.0225 Ghana cedis, which means that there will be no drop in any figure.
He said the final decision by the Council would erase any doubts in investors’ mind.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Muzic Mensah selected for Boomplay’s inaugural ‘NEXT WAVE’ Programme
2 hours -
Prime Insight to tackle legal vacation controversy and $1million AKSA bribery case
3 hours -
Ghanaian evacuee from South Africa dies on arrival in Accra
3 hours -
POS Foundation raises alarm over student cohabitation, sexual harassment on university campuses
4 hours -
Nandom NPP primary heats up as four candidates enter 2028 race
4 hours -
Mangione admits killing healthcare CEO and pleads guilty to federal charges
5 hours -
The Invite to The Odyssey: 12 of the best films of 2026 so far
5 hours -
Ayra Starr on her secret relationship and teasing Stevie Wonder
5 hours -
NPP Ashanti holds vigil in support of Wontumi as lawyers appeal conviction
5 hours -
TCDA targets higher crop yields as farmers receive inputs
5 hours -
Kofi Amoako Attah inducted into 11th Corporate Ghana Hall of Fame
5 hours -
Newsfile to discuss AKSA energy deal, legal vacation and GoldBod losses
6 hours -
Gushegu MCE says slain Yiidana was targeted as police investigate killing of chief and son
6 hours -
President Mahama reiterates commitment to link regional capitals with good roads
6 hours -
Ex-Cambridge professor at centre of plagiarism row found dead
6 hours