Ghana: GSE lists GH¢150m Kasapreko bond on GFIM

The Ghana Stock Exchange has listed Kasapreko PLC’s first GH¢600 million bond on the Ghana Fixed Income Market.

The GH¢150 million bond saw 100% subscription, marking the largest single capital raise on the market.

The proceeds are earmarked for expansion projects and other initiatives outlined in the company’s long-term agenda.

Managing Director for Kasapreko PLC, Richard Adjei, in an interview with Joy Business on the trading floor of the Ghana Stock Exchange hinted that the move will boost investor confidence in the firm as well as support the growth of the Ghanaian economy.

The fund is being raised over a three-year period with the support of local banks and capital market operators.

Kasapreko’s decision to list the bond on the GFIM demonstrates its dedication to growth and operational excellence within Ghana’s dynamic economic environment.

The listing of the first tranche of GH¢150 million on February 19, 2024, marks the largest capital raise on the market by a local manufacturing firm.

“As the first manufacturing company to raise a corporate bond in Ghana, we are thrilled to embark on this momentous journey of listing our GH¢600 million bond and grateful for the confidence the market has shown in Kasapreko PLC. This strategic move not only underscores our unwavering commitment to sustainable growth but also signifies our confidence in Ghana’s vibrant economic eco-system” he noted.

Managing Director of the Ghana Stock Exchange, Abena Amoah, took the opportunity to encourage other corporate entities to utilize the capital market to diversify their fund portfolios.