Hords launches IPO at 5p a share

Beverage and household cleaning toiletries manufacturers, Hords Limited, has launched its Initial Public Offer (IPO) at 5 pesewas a share.

The launch was held in Accra Thursday.

80 million shares are selling now at 5 pesewas per share and one needs GHC50.00 worth of shares to be a shareholder.

The company is the brain behind Golden Star Chocolate drink; Tom Soya; Soya Custard; Cerex Breakfast Cereal; Soyabix Food Supplement among others.

Speaking at the launch, Chief Executive Officer (CEO) of the company, Ham Otabil, noted that his outfit has survived the turbulent economic times, especially in 2007, which survival presently attests to the resilience of the brand.

He added that since the company’s 15 years [started operations in 2000] of existence, it has delighted the market with 19 products and still continuing research into untapped areas to supply the market with even more products.

Mr. Otabil disclosed that there is a 100 million-dollar ‘diabetes’ market out there and his outfit is keen on tapping into it.

“And I’m glad we are teaming up with Gold Coast Brokerage to climb higher,” he added.

The Hords CEO further disclosed that the partnership with Gold Coast Brokerage (GCB,) Gold Coast Fund Management Limited (GCFML,) and GN Bank is to allow his outfit to access funds on the financial market.

Against this backdrop, he urged investors to buy the Hords shares because there are lots of returns looking at the size of diabetes market [$100 million].

Speaking on behalf of Managing Director (MD) of the Ghana Stock Exchange (GSE,) Head of Listing at the GSE, Mrs. Joyce Esi Boakye, advised small and medium scale enterprises (SMEs) to roll onto the GSE so they can raise capital at less cost.