The GSE Composite Index was upbeat today, advancing by 6.36 points (+0.29%) on the back of price advancement in four counters in the financial and oil marketing sectors to close at 2,234.21 with a -1.02% year-to-date return while the market capitalization increased by 0.47% to settle at GH¢56.78 billion.
From a sector perspective, the GSE Financial Index gained 9.64 points (+0.48%) to close at 2,015.53 with a -0.20% year-to-date return while the SAS Manufacturing Index remained unchanged for the fifth successive session at 3,499.15 with a 0.51% year-to-date return.
Trading activity soared as 40,583,324 shares valued at GH¢27,702,378 changed hands compared with 891,496 shares valued at GH¢3,268,939 at the previous session. MTN Ghana dominated trades by volume and value, accounting for 99.84% of total volume and 99.46% of the total value traded.
We expect activity levels to increase at the next session.
Agricultural Development Bank Limited (GSE: ADB)
ADB and Serengeti Capital Markets Limited have announced the successful completion of a private placement of GH¢127 million of new equity (equivalent to approximately 18% of the newly issued share capital) with the support of its new shareholder, Ghana Amalgamated Trust (“GAT”).
Following the issuance of the new shares, the issued share capital of ADB will increase to approximately GH¢700 million. The total number of ordinary shares in issue will increase to 300,798,407 shares of no par value. The new shares have been admitted to the main market of the Ghana Stock Exchange and rank pari passu to existing ordinary shares in ADB in all respects.