[2008-07-11]  Unique Trust Prospectus Scrutinised
Available information reaching Daily Guide indicates that the draft prospectus meant for the listing of Unique Trust Financial Services Limited on the Ghana Stock Exchange is finally being scrutinized by Lead Managers, Databank Financial Services Limited. A source at the Securities and Exchange Commission (SEC) told this paper yesterday that his outfit has forwarded the draft prospectus of the leading non-bank financial company in the country to the Lead Managers’ for final examination before being returned to the SEC.



This will then pave way for the SEC to finally approve and endorse the listing of the company on the capital market, he emphasized. All things being equal, Unique Trust- the second best firm in Ghana according to the Ghana Club 100 rating conducted by the Ghana Investment Promotion Center (GIPC) in 2006- will embark on its Initial Public Offer (IPO) culminating in its listing by the third quarter of the year. The listing of the company on the Accra Bourse has been on the drawing board for sometime now as some market watchers anticipated its listing in March this year.





In a related development, Aviance Ghana Limited is waiting for the approval of its draft prospectus by the SEC after Lead Managers, Ecobank Development Corporation (EDC) Stockbrokers had reviewed the earlier prospectus rejected by the capital market regulators. Whiles Unique Trust is seeking to raise between GH¢15 million and GH¢20 million, thus relinquishing 40 percent stake in the company to the public, the air cargo handling company is hoping to raise about $26 million on the exchange for several expansion projects while entrenching its position on the Ghanaian scene.





Meanwhile, the Ghana Stock Exchange is expected to witness some major activities in the next couple of months including the landmark automation programmes according to a National Trust Holding Company (NTHC) report. Trading activities are expected to be automated in August. For a start, a hybrid market will be used whereby trading can be done either on the floor through wide area network or online concurrently.
Source: (C) 2008 PEACE FM