Kasapreko Raises GH¢700m in Oversubscribed IPO Ahead of GSE Listing
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Kasapreko IPO Draws GH¢1.72bn, Doubles Its Target
Kasapreko PLC's stock market flotation drew GH¢1.72 billion in bids, more than double its GH¢700 million target, from over 360 institutional investors and 30,000 individuals. The beverage maker's Initial Public Offering (IPO) closed at a subscription rate of 246 percent, meaning investors committed GH¢1.02 billion above what the company sought.…
The Business & Financial Times
GH HeadlinesKasapreko raises GH¢700m in oversubscribed IPO ahead of GSE listing
Kasapreko PLC has successfully concluded its Initial Public Offer (IPO), raising GH¢700 million after the offer attracted subscriptions worth approximately GH¢1.73 billion, making it 146 percent oversubscribed. The beverage manufacturer issued 583.3 million new ordinary shares at GH¢1.20 per share under the offer, which was managed by Absa Bank Ghana, Consolidated Bank Ghana and Databank Brokerage as Joint Lead Managers. According to the company…
Kasapreko's entry to the Ghana Stock Exchange is rarely seen in the country's financial market. The manufacturer of Alomo Bitters has raised nearly $120 million, twice the amount sought before its listing scheduled for June 17th. Kasapreko is preparing to enter the Ghana Stock Exchange (GSE) in a climate of rarely observed optimism for a local industrial enterprise. The company will be listed on June 17th under the symbol KPLC after an introduct…
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