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Traditional
ruler recommends SIC shares
Kumasi, Dec. 11, Ghanadot/GNA - A traditional ruler has
stated that the current financial position of the State
Insurance Company (SIC) makes it a very viable business
entity for investment in the country.
Baffour Osei Tutu Amofa 11, Kronkohene of Kumasi, urged
Ghanaians to take advantage of the floatation of public
share by the company and invest, in order to benefits from
the company's output.
Speaking at the Ashanti Regional launch of the SIC Initial
Public Offer in Kumasi, Baffour Amofa said investors stood
the chance of obtaining higher dividend, considering the 10
billion cedis dividend the company paid to the government in
2005.
The SIC is offering 97,822,500 shares at 30 Ghana pesewas
per share to the public.
The offer started on December 3rd and is expected to end by
December 21, 2007 and investors can purchase a minimum of
200 shares.
Professor Seth Buatsi, Dean, School of Business, Kwame
Nkrumah University of Science and Technology, said the
present economic situation, especially in the financial
sector, offered an opportunity for Ghanaians to invest in
the capital market.
He said SIC had grown to become one of the financial giants
in the economy and there was the need for the public to
purchase shares to enable the company to expand its
activities.
Mr Peter Osei Duah, Managing Director of SIC, said the
company had been an integral part of the Ghanaian community
for the past 45 years and the time had come for it to open
up to the larger community.
GNA
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