Asante Gold listing

The Ghana Stock Exchange has registered its first listing on the main market in the last 2 years.

The mineral resources firm, Asante Gold Corporation, floated about 350 million shares onto the market in Ghana after meeting all statutory requirements from the Securities and Exchange Commission as well as the GSE.

The company is therefore listing by ‘Introduction’ since it is already trading on the Canadian Stock Exchange.

Douglas MacQuarrie, Non-Executive Chairman of Asante Gold, stated, “It is with a great sense of ‘having arrived’ that Asante is now listed on Ghana’s premier stock exchange, one of the best performing stock exchanges in Africa in 2021. This listing complements our listings in Canada and in Germany and provides our Ghanaian shareholders, and potential new investors, the opportunity to invest and trade their shares locally in Ghana.”

Chief Executive of Asante Gold, Dave Anthony, applauded Ghanaian investors for their trust in the company and for acquiring significant shares in the company.

“Asante has significant ownership by both private Ghanaian investors and Ghanaian institutions, and the company is excited to be able to offer Ghana’s investment community and all interested investors the opportunity to participate in our growth as we work to achieve our vision of becoming a Tier-1 gold producer in West Africa”, he said.

Black Star Advisors Limited and Black Star Brokerage Limited acted as Arranger and Sponsoring Broker respectively to Asante Gold in respect of the listing on the Ghana Stock Exchange.

The Ghanaian bourse has not seen any listing in the past two years due to some circumstances until the decision by Asante Gold Corporation to list some 350 million shares.

According to Asante Gold, the decision is borne out of calls by local investors to have some participation in the company due to its contribution to the country’s revenue stream.

Executive Vice President and Country Director for Asante Gold Corporation, Frederick Attakumah told Joy Business that the interest is to have Ghanaian investors take part in the local firm.

Managing Director of the Ghana Stock Exchange, Ekow Afedzi, expressed excitement and hope to use the new local content policy to get more gold refinery companies to list on the stock exchange.

Asante Gold plans to conclude the acquisition of Chirano Gold Mine to support its efforts in becoming a tier-one gold mining firm in West Africa.