Ghana: Accra Brewery may de-list from Ghana stock exchange in March 2011

Accra Brewery Limited (ABL) has hinted of plans to officially de-list from the Ghana stock exchange in March 2011, Citifm Online reported on January, 11.

The company had in 2010 announced its intention to de-list from the exchange but is yet to complete the process.

ABL has been struggling with poor market conditions as reflected in their results over the past few years.

Management of the company says the decision to delist is to enable a capitalization of the business.

In September 2010, minority share holders voted in favour of the company’s de-listing during its annual share holders meeting.

The move is expected to give the parent company, SABMiller a hundred percent stake in ABL.

Managing Director of ABL, Greg Metcalf said the de-listing will take place immediately a few bottlenecks are dealt with.

Mr. Metcalf said business will still go ahead after the de-listing takes place since the majority stakeholder will invest more capital to help the company pay some of its debt and remain in competition.

12 January, 2011