GOLDEN STAR GOES PUBLIC - TO RAISE GH¢9.5M TO EXPAND ACTIVITIES (P.33)

Story: Kofi Yeboah
GOLDEN Star Resources (GSR), operators of mining interests at Bogoso, Prestea and Wassa in Western Region, has floated 3,170,000 shares at GH¢30 per share in the company, in response to the President’s call for mining companies to list on the Ghana Stock Exchange (GSE).
The shares, which were launched in Accra last Wednesday, makes GSR the second mining company after AngloGold Ashanti to go public.
It is also the third of such initiative by GSR at the global level, after its listing on the America and Toronto Stock Exchanges.
With the floating of shares, which is opened from December 5, 2007 to December 21, 2007, GSR is giving Ghanaians the opportunity to buy 3,170,000 shares at ¢30GP per share for a minimum unit of 20 shares. The share offer closes on December21.
Management of the company envisages to rake in GH¢9.5 million to recapitalise the company.
According to management, proceeds from the offer would be used for development projects, such as the construction of special purpose road to Wassa and pre-stripping of its Benso pits.
Management therefore urged Ghanaians to take advantage of the company’s positive business credentials, such as being a growing mining company and its impressive financial performance, to invest in the company by buying the shares.
The Minister of Lands, Forestry and Mines, Madam Esther Obeng Dapaah, who launched the share offer, lauded GSR for the initiative, saying it would enable Ghanaians to be part owners of the company.
She said it was the government’s desire to see many companies list on the GSE.
Madam Dapaah said there was no doubt about the contribution of the mining sector to the nation’s economy, especially by bringing in foreign exchange.