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SEC decides on Comet Properties this week

By Kofi AHOVI The Securities and Exchange Commission (SEC), the regulator of the capital market, will this week finalize the approval of the prospectus of Comet Properties Limited, a wholly owned Ghanaian real estate company, for listing on the Ghana Stock Exchange (GSE). Comet Properties late last year got its provisional listing on the Ghana Stock Exchange. Provisional listing was introduced to the Ghanaian stock market a couple of years ago to help small and medium companies list on the GSE. Companies have to complete all processes to get fully listed on the exchange within 18 months after provisionally listing on the exchange. However, management of Comet Properties promised to complete the processes within six months. After the approval of its prospectus by SEC, the company would commence its Initial Public Offer to enable the general public to invest in the company. The company, which started operations in 2002, is ranked as the 47th company in the Ghana Club 100 magazine. Since ...