The GSE lifts suspension of trading in shares of PKL

The GSE lifts suspension of trading in shares of PKL

The Ghana Stock Exchange(GSE) has lifted the suspension of trading in the shares of Pioneer Kitchenware Limited (PKL) earlier imposed on PKL.

It would be recalled that on August 25, 2017, the Ghana Stock Exchange (GSE), announced that trading in the shares of some five companies would be suspended from Monday, August 28, 2017 until September 8, 2017.

PKL which was one of the five companies have rectified all the anomalies that led to their suspension. Accordingly, the Exchange has lifted the suspension of trading in the shares of PKL that was imposed with immediate effect.

Pioneer Kitchenware Limited (PKL) is one of the leading manufacturers of aluminum hollow ware products in Ghana, and within the West Africa sub-region. PKL, previously known as Pioneer Aluminum Factory, was incorporated in Ghana by its Swiss founder in 1959. In 1995, the company went public on the Ghana Stock Exchange.

In August 2006, the company’s name was changed to Pioneer Kitchenware Limited to reflect the new strategic focus being pursued by the company. SAS Finance Group owns over 70% of PKL. PKL specializes in the manufacture of high quality household aluminum hollow ware. It pioneered the use of aluminum to produce cookware in Ghana under the “Torch brand” which has since become the “Mark of Quality”.

PKL’s products, under the Torch brand, are strong market players and over the years have set the trend for consumer preferences for the sizes and shapes of cookware. The company has an installed production capacity of over 1,200 metric tonnes per annul, and currently holds over 40% of the market share.