Accra, Nov. 8, GNA - The Ghana Stock Exchange has approved the application of Aryton Drug Manufacturing Limited for provisional listing status on the bourse, a statement issued in Accra on Tuesday said. The statement issued by the Ghana Stock Exchange said Worldwide Securities Limited, a licensed dealing member of the Exchange, sponsored Ayton's application.
The statement said Aryton's admission brings to four the number of Small and Medium-Scale Enterprises that had used the innovative provisional approach to listing.
The previous three companies are Clydestone, an IT company, Starwin Products, a pharmaceutical company and Golden Web, a vegetable oil processing company.
Under the provisional listing guidelines of the Exchange, Aryton through its sponsors and advisers would be required to submit a prospectus to the Securities and Exchange Commission for approval and follow through with an offer to the public.
The statement said this was to be completed within six months. Aryton located at Tesano in Accra is a family-owned business that intends to open up to the general investing public.
The Company started business in October 1965 and has significantly added to plant and machinery since then. The Company employs 140 permanent staff and 122 contract persons.
This year, the Company converted from private to a public limited liability company as part of its plans to open up its shareholding to the larger investing public.
Aryton at the moment manufactures 69 branded products and intends to add a further 17 new products to the list. They are in five categories - tablets, syrups, powders, capsules and ointments. 08 Nov. 05