Kasapreko PLC, one of Ghana’s leading indigenous beverage manufacturers, has marked a major milestone in its 38-year history, successfully listing on the Ghana Stock Exchange (GSE) after a heavily oversubscribed initial public offering that underscored robust investor appetite for high-quality local businesses.
The company’s IPO attracted bids totaling approximately GH¢1.72 billion ($147.6 million), achieving a 246% subscription rate against a target raise of GH¢700 million. This represents one of the most successful public offerings in Ghana’s capital markets in recent years. The offer involved the issuance of 583.3 million ordinary shares at GH¢1.20 each and saw demand for roughly 1.44 billion shares.
A uniform allotment rate of 40.56% was applied across investor categories due to overwhelming demand, with excess funds refunded to participants. The listing ceremony, held at the GSE in Accra, drew senior government officials, regulators, institutional investors, and business leaders.
The proceeds will primarily fund the construction of a new production facility at Adeiso in Eastern Region of Ghana, focused on expanding capacity in bottled water and carbonated soft drinks. According to the offer document, GH¢672.46 million (96.06% of the target) is earmarked for the factory project, with the remaining GH¢27.54 million allocated to IPO-related costs.
The IPO drew participation from more than 360 pension funds and institutional investors, alongside over 30,000 retail investors through various platforms. Market analysts pointed to Kasapreko’s strong brand portfolio, consistent revenue growth, expanding export presence, and attractive valuation relative to peers as key drivers of the strong demand.
Founded as a family business, Kasapreko has grown into a major player in Ghana’s beverage industry, with a track record of resilience and market expansion across the region.
Joint lead managers for the transaction included Absa Bank Ghana Ltd and Consolidated Bank Ghana Ltd, with Databank Brokerage Ltd acting as sponsoring broker. Legal Advisers Bentsi-Enchill, Letsa & Ankomah
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