Listing Requirements for the Ghana Stock Exchange (GSE)

To list on the Ghana Stock Exchange, a company must satisfy comprehensive eligibility, financial, governance, and procedural criteria:

1. Eligibility

• Public limited liability company incorporated in Ghana.
• Satisfactory financial history (profitability, solvency).
• Sound business model, growth prospects, viable plan.
• Minimum market capitalization: GH¢4 million.

2. Financial Requirements

• Minimum paid-up capital: GH¢1 million.
• Audited financial statements for ≥3 years.
• Prospective financial statements for next 2 years.
• Regular filing with GSE post-listing.

3. Corporate Governance

• Independent board with non-executive directors.
• Audit committee and remuneration committee.
• Transparent, accountable, ethical practices.

4. Shareholding & Public Float

• Minimum 200 shareholders.
• No single shareholder >25% of issued shares.
• Public float ≥25% of total issued shares.

5. Listing Process

• Appoint sponsoring broker, legal advisor, reporting accountant.
• Prepare prospectus (detailed company, business, financial, offering info).
• Prospectus reviewed/approved by GSE.
• Conduct Initial Public Offering (IPO).

6. Post-Listing Obligations

• Continuous disclosure (financials, material events).
• Maintain minimum market cap and public float.
• Periodic GSE compliance reviews.

Requirements are updated periodically; consult the GSE website for current rules.