Tuesday, May 18, 2021

Mechanical Lloyd Plc delists from Ghana Stock Exchange

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Fred Dzakpata
Fred Dzakpata is a Ghanaian journalist who specializes in business reporting in Africa.
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Mechanical Lloyd Plc has announced the company’s delisting from the Ghana Stock Exchange.

The offer results and delisting was approved by the Ghana Stock Exchange and took effect last Friday, 16 April 2021.

The shares of Mechanical Lloyd Plc will no longer be traded on the stock exchange after successfully delisting.

So far about three firms namely PZ Cussons, Sam-Woode ltd and Pioneer Kitchenware Limited have all delisted on the Ghana Stock Exchange in the past two years.

Fourth worst stock exchange in Africa

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Meanwhile the Ghana Stock Exchange witnessed positive returns in the last quarter of the year under review as it returned +5.60% and +1.85% in the last month to reduce the GSE Composite Index (GSE-FSI) year-to-date losses from about 19% to 13.98%.

Making it the fourth worse among 17 stock markets in Africa. It lost 315.56 points on its year open level of 2,257.15 points to 1,941.59 points.

However, in 2019, the GSE-CI recorded a year-to-date return of -12.25% and its level at 2,257.15 points.

This also implies that 2020 in terms of yields, the GSE – CI declined further into the negative trajectory.

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On the flip side, the year ended with five markets returning positively to investors amidst the pandemic.

 

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Source: Africafeeds.com

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