Local Bourse commences week flat while trades rebound

BY BUSINESS GHANA - Feb 23, 2021 at 5:05pm 100

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The Ghana Stock Exchange (GSE) Composite Index opened the week flat at 2,177.43 with a year-to-date return of 12.15% while the market capitalization was unchanged at GH¢56.91 billion.

The GSE Financial Index recorded no gains or losses, closing at 1,873.31 with a year-to-date return of 5.08% while the SAS Manufacturing Index remained unaffected at 1,619.23 with a year-to-date return of -4.83%.

Trading activity rebounded as 3,329,979 shares valued at GH¢2,802,839 changed hands from 28,244 shares valued at GH¢34,924 in the previous session. MTN Ghana dominated trades by volumes and value, accounting for 52.01% of the total volumes traded and 49.44% of the total value traded.

We anticipate activity levels to increase.

Ecobank Nigeria announces the pricing of its Senior Unsecured US$300 Million Bond.

Ecobank Transnational Incorporated (GSE: ETI)

Ecobank Nigeria (“ENG” or “the Bank”), a wholly-owned subsidiary of Ecobank Transnational Incorporated (‘ETI’), the parent company of the Ecobank Group, announced that it has successfully priced its US$300 million bond issuance maturing in February 2026, with the settlement of the bond to take place on 16 February 2021.

The fixed-rate, US dollar-denominated bond, with a tenor of 5 years, carries a coupon rate of 7.125% and will be listed on the London Stock Exchange.