Harold Otabil, CEO of HORDS Limited (down right) with executives of the company and Gold Coast Brokerage
HORDS Limited, an indigenous agro-processing company, has officially listed and begun trading its shares on the Ghana Alternative Market (GAX).
A total of 114 million shares were listed on the GAX which is worth about GH¢5.4 million.
Shares of the company started trading on the Accra Bourse on Tuesday, 11 August after the successful completion of the Initial Public Offer (IPO) in which it raised GH¢4 million through the issuance of 80 million ordinary shares at GH¢0.05 per share.
Benjamin Kofi Afreh of Gold Coast Brokerage, which has majority shares in HORDS, expressed hope that the investment that shareholders were making in the company would bear fruit.
“I know it won’t come the next month or two but in a maximum of one year we should begin to see very good fruits from the seeds we sowing today,” he said.
Mr. Afreh said, “As a major shareholder of HORDS, we shall ensure that we get the company far. We will guide them to ensure that they succeed.”
Kofi Yamoah, the Managing Director, Ghana Stock Exchange (GSE), Head of Listing at the GSE, advised Small and Medium-scale Enterprises (SMEs) to list on GSE in order to raise capital at less cost.
He said the GAX is a dedicated market for SMEs with high growth potentials and at various stages of their development, including start-ups.
Mr. Yamoah said the main aim is to support SMEs to take advantage of the capital market to grow through access to a greater pool of capital, including local private pension funds.
Nana Owusu Afari, former President of Association of Ghana Industries (AGI), commended HORDS for taking the bold step to list on the GAX in order to expand and add more value to their various products such as Gold Cocoa, Soyabetix, Cocobetix and Spray Starch, among others.
BY Cephas Larbi