Car dealer CFAO could be off the stock exchange by the middle of next year, following approval of a special resolution by shareholders on Thursday to delist the company.
The company is 90 percent owned by parent body CFAO France, making it difficult to trade shares effectively on the stock market.
The move to delist is part of a global plan by CFAO to get out of all stock exchanges in Africa in which it is currently listed.
When the process is complete, shareholders who are unable to sell their shares would have to do so over the counter or OTC. CFAO is currently selling at GH¢4 per share.
Head of EDC Brokers Iddrisu Mahama said the delisting will enable the automobile company to better reorganize itself.
Play attached audio for voice of Mr Iddrisu Mahama
Ghana will make maiden voyage into space should Bawumia become President — Chair...
Train crash: Despite the sabotage, we shall not be deterred and will persevere —...
Tema-Mpakadan railway project a perversion of the original viable concept design...
Train crash: Elsewhere, everyone involved in the test will either be fired or re...
Ghana, other election bound-countries must build fiscal buffers – IMF admonishes
Parliament reconvenes late May, denies Speaker Bagbin delaying recall over NDC t...
$100m needed to revitalise Ghana's poultry sector — GNAPF
Driver arrested for causing train collision on Tema-Mpakadan Railway Line
Police grab trucker for Tema-Mpakadan rail accident
Gov't plans to revise traditional customs following Gborbu child marriage
