76.6% of GSE’s Total Market Value Controlled by 5 Listed Companies

A larger share of the total market capitalization/value of the Ghana Stock Exchange (GSE) is dominated by just five companies, an analysis of the market capitalization of listed companies by NorvanReports has revealed.

Per the analysis, the five listed companies control approximately 76.6% of the total market value of the country’s local bourse.

The listed companies in focus are Scancom Plc (MTNGH), AngloGold Ashanti (AGA), Tullow Oil, Ecobank Transnational Incorporated (ETI), and Agricultural Development Bank (ADB).

MTNGH is the most capitalized company with a market value of GHS 35.07 billion and listed shares of 13.2 billion.

Following MTNGH in second, third, and fourth places are AGA, Tullow, and ADB with a market capitalization of GHS 18.59 billion (502 million listed shares); GHS 17.39 billion (1.45 billion listed shares) and GHS 8.36 billion (1.65 billion listed shares) respectively.

ADB is the sole Ghanaian company to be among the top five most capitalized companies.

ETI with a market capitalisation of GHS 7.7 billion and listed equities of 24.06 billion was the fifth most capitalised company on the GSE.

Cumulatively, the five companies have listed shares of 40.91 billion valued at GHS 87.11 billion, which represents 76.6% of the GHS 113.70 billion current total market capitalization of the GSE.

The remaining GHS 26.59 billion of the GSE’s market capitalization is shared between the other 28 companies listed on the bourse.

In all, some 33 companies are listed on the main GSE market.

Source: norvanreports.com