Indigenous Company, Samba Foods has officially commenced trading on the Ghana Alternative Exchange (GAX) following a successful Initial Public Offering (IPO).<\/p>\n
[contextly_sidebar id=”Vsz9K36YeGRiDoRISd8b4aVfuIINop6K”]Samba becomes the first company to list on the alternative market.<\/p>\n
The company through its month-long IPO was able to realize its target of GH 2.5 million by offering over 3 million ordinary shares to the investing public.<\/p>\n
Management of Samba foods are looking at using proceeds from the share offer for planned upgrade of processing plant facilities and paying-off of existing indebtedness.<\/p>\n
Managing Director of Samba Foods Limited, Leticia Osafo Addo is hopeful listing on the GAX will enhance their business.<\/p>\n
\u2018\u2019We are going to get more modern machines to automate some of our processes, use part as working capital to enhance our operations.\u2019\u2019<\/p>\n
Speaking further the Samba Foods boss advised SME\u2019s to be transparent in their dealings if they are to list on the money market.<\/p>\n
She said \u2018\u2019most SME\u2019s are not detailed in managing their companies; the companies are individual entities that need to be treated as such and you must be able to nurture it and let it grow.\u2019\u2019<\/p>\n
As at the time trading begun on the Ghana Stock Exchange, Samba foods had gained a pesewa to reach 73 pesewas from the initial 72 pesewas during the IPO with a 1000 shares.<\/p>\n
Managing Director of the Ghana Stock Exchange, Kofi Yamoah for his part encouraged SME\u2019s to take advantage of support that the stock market is offering.<\/p>\n
\u2018\u2019We simply created the GAX to meet the special requirements of Small and Medium Scale Enterprises, including start-ups so that such companies can come to the market, grow their business and better withstand the local and international competition.\u2019\u2019
\n–
\nBy: Lorrencia Nkrumah\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
Indigenous Company, Samba Foods has officially commenced trading on the Ghana Alternative Exchange (GAX) following a successful Initial Public Offering (IPO). [contextly_sidebar id=”Vsz9K36YeGRiDoRISd8b4aVfuIINop6K”]Samba becomes the first company to list on the alternative market. The company through its month-long IPO was able to realize its target of GH 2.5 million by offering over 3 million ordinary […]<\/p>\n","protected":false},"author":14,"featured_media":115738,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[4],"yoast_head":"\n