Kasapreko 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, the IPO drew interest from 18,781 qualified applicants who bid for about 1.44 billion shares, significantly exceeding the number of shares available under the offer.

To accommodate the strong demand, Kasapreko’s board approved a uniform allocation rate of 40.56 percent across all investor categories.

Local institutional investors accounted for the largest share of subscriptions, bidding for more than 1.08 billion shares, while local individual investors applied for over 189 million shares.

Foreign institutional and individual investors also participated in the offer.

The company said all successful applicants had their allotted shares credited to their Central Securities Depository (CSD) accounts on June 5, while refunds relating to excess subscription amounts would be completed by June 11 through the respective application agents.

Kasapreko’s shares are scheduled to begin trading on the Ghana Stock Exchange (GSE) on June 15 under the ticker symbol “KASA”, providing investors with an opportunity to participate in the growth of one of Ghana’s best-known consumer brands.

Board Chairman Samuel Leslie Adetola described the outcome as a strong endorsement of the company’s long-term prospects and a significant milestone for Ghana’s capital markets.

“The exceptional investor response to Kasapreko’s Initial Public Offer is a testament to the depth of confidence that both local and international investors have placed in this Company and its long-term prospects,” he said.

Managing Director Richard Adjei said the proceeds from the IPO would support the company’s next phase of growth, including expanding production capacity and strengthening its international operations.

He noted that Kasapreko had grown into a business generating annual revenues of about GH¢3.5 billion through product innovation, operational discipline and market expansion.

Founded in 1989, Kasapreko has evolved from a local beverage producer into a multinational company with a broad portfolio spanning alcoholic and non-alcoholic drinks.

The company is best known for its flagship Alomo Bitters brand and has expanded into products including gin, whiskey, wine, soft drinks and bottled water, with a growing presence in international markets.