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MIIF to list 49% of Agyapa Royalties on London and Ghana bourses

The Ghanaian Standard by The Ghanaian Standard
May 21, 2022
in General
Reading Time: 2 mins read
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Mr Edward Nana Yaw Koranteng, Chief Executive Officer of MIIF
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The Minerals Income Investment Fund (MIIF) has announced plans to list 49% of Agyapa Royalties on the London Stock Exchange and the Ghana Stock Exchange.

According to the Chief Executive Officer of MIIF, Edward Nana Yaw Koranteng, the listing will raise between $450 million and $700 million which will be directed at investing in infrastructure and other social amenities, especially in the mining communities.

He further said: “Agyapa, by being incorporated in the UK and listed on the London Stock Exchange, provides the opportunity to leverage on its balance sheet to raise cheaper funding and with [fewer] obstacles to further invest in other royalties companies and leading gold mining companies across the globe.

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“This is an opportunity for Ghana to take the lead and the world is watching.”

He elaborated: “I am confident that, in view of current geopolitics, current global economic recessionary trends and demand for gold and equities of gold royalty companies, Agyapa’s market value upon listing will surely shoot up.”

By listing on the London Stock Exchange, he stated that this will help Agyapa Royalties achieve the highest levels of transparency and controls required for any listing in the world.

“The listing on the Ghana Stock Exchange will give a greater number of Ghanaians the chance to participate in the ownership of our own mineral wealth,” he added.

“Whatever revenues are realised from the listing of Agyapa come directly to the Minerals Income Investment Fund. We are ready to engage all stakeholders on how we move the Agyapa listing forward after responding to all issues raised by Parliament,” Koranteng said.

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Although the MIIF boss did not give a definite timeline, it appears the intended listing for Agyapa on the London Stock Exchange will be towards the fourth quarter of 2022.

He was speaking to Forbes Monaco after MIIF had been named the best financial institution in the mining sector by the French-based publication.

Forbes recognised MIIF’s strategic acquisition of over 14 million shares and a roughly 4.65% stake in Asante Gold Corporation, a Canadian- and Frankfurt-listed gold production company which operates in Ghana.

The Forbes Monaco award is given to financial institutions which concentrate specifically on providing financial platforms and funding solutions to the mining sector.

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Source: MyJoy Online
Tags: Agyapa RoyaltiesGhana Stock ExchangeLondon Stock ExchangeMinerals Income Investment Fund (MIIF)

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