Alomo Bitters Producer Makes History as Kasapreko IPO Attracts N208.54 billion in subscriptions
- Kasapreko Plc's IPO attracted billions in investor bids, exceeding its target by 146% and making the offer 246% oversubscribed
- The Ghanaian beverage company allocated shares at a uniform rate and will complete refunds for excess subscriptions by June 11, 2026
- Kasapreko's shares will begin trading on the Ghana Stock Exchange on June 15, 2026, under the ticker symbol "KASA"
Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Ghanaian beverage giant Kasapreko Plc, maker of the popular Alomo Bitters brand, has recorded overwhelming investor demand for its Initial Public Offering (IPO), with subscriptions reaching GH¢1.73 billion (about N208.54 billion), far exceeding its GH¢700 million (N84.38 billion) fundraising target.
The company disclosed in a statement on Tuesday that the offer was oversubscribed by 146 per cent, with an overall subscription rate of approximately 246 per cent.
Source: UGC
Kasapreko successfully raised GH¢700 million through the issuance of 583.3 million new ordinary shares priced at GH¢1.20 each. The offer was managed by Absa Bank Ghana Ltd, Consolidated Bank Ghana Ltd, and Databank Brokerage Ltd, acting as joint lead managers.
According to the company, the IPO attracted tens of thousands of qualified investors who applied for roughly 1.44 billion shares.
The company stated:
“The Offer attracted bids from 18,781 qualified applicants totalling approximately 1.44 billion shares — representing subscriptions of GHS 1.73 billion — making the Offer oversubscribed by 146%."
The company added that all successful applicants had their allotted shares credited to their Central Securities Depository (CSD) accounts on June 5, 2026.
Management hails historic milestone
Chairman of the Board, Samuel Leslie Adetola, described the strong investor response as a clear indication of confidence in the company's future growth prospects.
He said attracting nearly GH¢1.73 billion from more than 18,000 investors across different categories marked a significant achievement not only for Kasapreko but also for Ghana's capital market.
Adetola expressed appreciation to all investors who participated in the offer, pledging that the company would maintain high standards of corporate governance, transparency, and accountability as it transitions into life as a publicly listed company.
He said:
“We look forward with great enthusiasm to welcoming our new shareholders as we embark on this exciting new chapter as a publicly listed company.”
Managing Director Richard Adjei also welcomed the successful outcome, stating that the IPO's performance reflected the strength of the Kasapreko brand, the resilience of its business operations, and investors' confidence in the company's long-term vision.
Source: Legit.ng
