Sam Woode to be listed today

SAM Woode Limited, (SWL) one of the leading publishing firms in the country will be listed on the Ghana Stock Exchange (GSE) with effect from Wednesday, April 24.

This was the result of the successful initial public offer undertaken by the company two months ago.

It floated 8,000,000 shares to raise ?2 billion for the expansion of its operational activities.

Mr Francis Tweneboa, Managing Director of the GSE announced this at a press conference in Accra last Tuesday. He said “subscriptions were obtained for the entire number of shares offered and applicants have received full allotment while share certificates would have been dispatched shortly.

He said SWL is the third indigenous company to be listed on the stock exchange, following the foot prints of Mechanical Lloyd and Chamelot Ghana Limited.

Mr Tweneboa urged other Ghanaian entrepreneurs to take advantage of the capital market to expand their businesses by sourcing long term funding.

He reiterated that stock exchange has a window for capitalisation and listing of start-up companies without track record, and the recapitalisation and listing of companies in distress.

He congratulated the management of SWL for their successful share floatation.

The Head of Operations of the National Trust Holding Company (NTHC), floatation managers of SWL, Mr Kobina Ollenu Amposah-Dadzie, said the floatation of the shares would enable management of the company access to the ?2 billion for expansion of its facilities. He said total number of share holders stood at 561 at the close of the floatation.

The Managing Director, Mr Samuel Woode, assured shareholders that the company would deliver on its promises.