KASAPREKO PLC has listed on the main market of the Ghana Stock Exchange (GSE) with 4.13 billion ordinary shares, valued at GH¢4.96 billion.
The listing follows a successful Initial Public Offering (IPO) which was oversubscribed by more than twice.
The indigenous beverage manufacturer offered shares to raise GH¢700 million but received bids worth GH¢1.73 billion from over 18,000 investors, representing an oversubscription of 246 per cent and setting a record for a locally-owned manufacturing company on the exchange.
This marks the third IPO on the GSE’s main market in the last six months.
Kasepreko offered shares to the public at GH¢1.20 per share and by 12:18 p.m. of its first day of trading last Monday on the ticker ‘KASA’, the company’s shares appreciated to GH¢1.32, reflecting positive investor sentiment.
Speaking at the listing ceremony, the Minister of Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, described the development as a major milestone for Ghana's industrial sector and capital market.
She said the listing demonstrated that Ghanaian companies could attract significant capital, command investor confidence and compete successfully on the global stage.
"Kasapreko's journey from a startup to a manufacturer with more than 100 product lines exporting across Africa, Europe, Asia, the Middle East and North America is a story of discipline, patience and purposeful industrialisation," she stated.
The minister noted that unlike some companies that entered the stock market to address financial difficulties, Kasapreko was listing from a position of strength.
She explained that the funds raised from the IPO would be used largely to finance the construction of a new production facility and expand the company's bottled water and carbonated soft drink production capacity.
Mrs Ofosu-Adjare said the listing reflected growing confidence in Ghana's economy and cited government's efforts to restore macroeconomic stability and deepen engagement with the private sector.
Confidence
The Managing Director of Kasapreko PLC, Richard Adjei, described the company's listing on the main market of the GSE as a vote of confidence in Ghanaian enterprise, local manufacturing and the future of the company.
He said the milestone marked the beginning of a new chapter for the indigenous beverage manufacturer, which started as a small family business more than 36 years ago.
He said the company had evolved into a respected corporate institution through the dedication of its employees, management and board, adding that the decision to list was aimed at creating a business that would endure for generations.
Mr Adjei said funds raised from the capital market would support the company's long-term growth ambitions and expansion plans, adding that the company would remain committed to transparency, accountability, innovation and sustainable growth as a publicly listed company.
Revival of activity
The Managing Director of the GSE, Abena Amoah, described Kasapreko’s IPO, which was significantly oversubscribed, as evidence of growing investor confidence in the country’s capital market and strong demand for stocks as a wealth-creation platform.
She explained that all three recent listings attracted significant investor interest, reflecting renewed confidence in the market and growing recognition among businesses that public listings were a viable route to long-term financing.
Ms Amoah expressed optimism that the momentum would encourage more companies to pursue public listings going forward.