CPC shares price discounted

The National Trust Holding Company (NTHC) on Friday announced that the share rise of the Cocoa Processing Company has been discounted to take into consideration the market's sentiments about the pricing.

A Statement issued in Accra by NTHC, managers of the CPC public offer, said the action was also because of reservations of the Ghana Stock Exchange (GSE) about introducing differential pricing in the course of the offer, such as the special price given to cocoa farmers.

It said the original offer price of 1,000 cedis per share has therefore been discounted to 625 cedis.

"Therefore, for every 100 shares applied for at 1,000 cedis, an applicant will now be issued with 160 shares at 625 cedis per share."

The statement said CPC would be listed on the GSE on February 14.

The discount was arrived at with the approval of the Issuer and the consent of the GSE and the Securities and Exchange Commission.

The statement said 861,475,000 shares were issued while 215,368,750 were offered.