GSE makes changes to board lot size

By Kofi Ahovi
The Ghana Stock Exchange (GSE) has made changes to the board lot size of certain listed equities. This takes effect from this Monday, August 15, 2011 according to a release.

The change is in accordance with sections 16(2) and 17(2) of its Automated Trading System Rules.

Board lot is a standardized number of shares defined by a stock exchange as a trading unit. In most cases, this means 100 shares. The purpose of a board lot is to facilitate easy trading. It is more difficult for a broker to find a buyer for, say, 17 shares, than if everybody agrees to trade in 100 share lots.

The board lot size of listed equities trading on the GSE Regular Market, whose share prices are GH¢10.00 and above, shall be ten (10) and multiples thereof. For such equities the minimum trading unit on the Odd Lot Market shall be one (1) and a maximum of nine (9) shares.

Listed equities currently affected by this change are AngloGold Ashanti Limited (AGA), Standard Chartered Bank Ghana Limited (SCB), Total Petroleum Ghana Limited (TOTAL), and Tullow Oil Plc (TLW).

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