Listen to music while browsing

TOR Eyes Listing On GSE

By Daily Guide

The Tema Oil Refinery (TOR) is considering listing on the Ghana Stock Exchange (GSE) by 2014.

The move is part of management's strategy to privatize the firm and make it more profitable.

The plan must however be approved by government which currently owns the refinery wholly.

The Managing Director of TOR, Ato Ampia said there are still some issues that need to be addressed before it goes public.

'The first thing to do is that TOR show the path to progress that adds value and that would boost investor confidence. After we have done these little these, little but are so much valued, that will boost the value of TOR's shares at IPO and make sure that government get as much as possible. We want to do it but the timing is when TOR has its image right, has its plan right and its operations right.'

The refinery said it needs about $900 million to turn around its fortunes.

TOR will then join other state institutions like Ghana Commercial Bank (GCB), Cocoa Processing Company and Ghana Oil (GOIL) which have been privatized in similar manner.

State power generator, Volta River Authority (VRA) is also looking at the option of listing on the stock market.

Don't let the moment pass if you meet someone who touches your heart.
By: Francis Tawiah --

President Obama invites Ghanaian jo

Wednesday, April 8, 2015

The Managing Editor of Business Day Newspaper, Felix Dela Klutse, has been selec ...
read more »

IMF: Ghana could be HIPC by end of

Friday, April 17, 2015

According to the International Monetary Fund (IMF), Ghana's total public debt co ...
read more »

Insurance companies introduce sub-r

Wednesday, April 15, 2015

Drivers who commute across the ECOWAS Sub-region would not be required to re-ins ...
read more »

Businesses cry over Cedi fall

Wednesday, April 15, 2015

Business owners are resorting to retrenching their employees as the cedi continu ...
read more »