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Digicut set to list on Ghana Stock Exchange, as IPO launched today

Digicut Production and Advertising, an advertising and a public relations business, is making sales of 30% of its stake available to the public through the issuance of the IPO and the subsequent listing on the Ghana Alternative Market (GAX).

The IPO is opened from 1st March and closes on 16th March 2018. The company is offering 35.67 million shares at a valuation of GHS0.08 per share to raise GHS2.85 million to pay debts, purchase new equipment and provide working capital as shown below.

DigiCut is a subsidiary of Groupe Nduom (GN), who shall maintain a majority shareholding of 70% of the company post IPO. Its main competitors include Farmhouse Productions and the AdVantange Group as well as outdoor advertising firms such as DDP Outdoor. DigiCut executes the advertising and public relations jobs for subsidiaries of Group Nduom such as GN Bank and FreshPak.

 

The IPO Prospectus can be found here.

Digicut records positive value after listing on Ghana Alternative Market

Meanwhile Shares of Digicut advertising received an appreciation in value of 12.5 percent after it was listed on the Ghana Alternative Market on Wednesday.

The company listed on the Ghana Alternative Market after it raised a little over 28 million cedis from 270 investors during an Initial Public Offer at the price of 8 pesewas per share.

According to the Managing Director of Digicut Richmond Lamptey, the development promises to give investors good returns on their investments.

The new development h made the subsidiary o the Nduom Group, the 5th company to be listed on the alternative market since its establishment by the Ghana Stock Exchange.

During the Initial Public Offer, IPO, Digicut received an application from 278 investors which raised more than 28 million cedis out of the 35 million shares.

This indicates a success for the company.

Congratulating the company, Managing Director of the Ghana Stock Exchange, Kofi Yamoah urged small and medium enterprises to explore the opportunities presented by the GSE to raise funds to expand their operations.

Other subsidiaries of the Ndoum group are also expected to list on the Alternative market as well as the main bourse by the close o the year

In an address to welcome the new entrant onto the bourse, Managing Director of the Ghana Stock Exchange, Kofi Yamoah charged the company to avail itself for all the necessary rules for listed members on the GAX. 

He also requested that they appear for the annual ‘fact behind the figures’ series to ensure that shareholders and investors are well informed about their earnings.

Source: myjoyonline.com

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