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11.08.2004 Business & Finance

BOPP share offer oversubscribed by 173.49%

By GNA

Accra, Aug. 11, GNA - Benso Oil Palm Plantation (BOPP) said on Wednesday that its Public Share Offer was oversubscribed by 173.49 per cent.

A statement issued through the Ghana Stock Exchange (GSE) said it posted a total of 69.6 billion cedis for 13.920 million shares in the public share offer from June 18 o June23 on the Exchange. There were a total of 11,350 applicants.

It consisted of the sale of 13.92 million shares of no par value at 5,000 cedis each on behalf of the Government of Ghana. The 60.6 billion cedis represent 40 per cent of BOPP's total market capitalisation.

BOPP is scheduled to list on the GSE on Monday August 30 with an initial market capitalisation of 174 billion cedis.

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