Ghana: ZEN Petroleum lists on GSE, IPO raises GH¢970m

ZEN Petroleum Holdings PLC has listed its Initial Public Offer (IPO) on the Ghana Stock Exchange (GSE), marking a significant milestone after 16 years of operations in the country.

The IPO, which attracted strong investor interest, was oversubscribed by 94 per cent, raising GH¢970 million, far exceeding its initial target of GH¢500 million by GH¢470 million.

At the commencement of trading, 500 shares were exchanged at a price of GH¢5.00 per share, signalling a positive start to the…