Ghana's Kasapreko soars 79% after $60.3M IPO on booming GSE
What's the deal? Ghanaian beverages maker KasaprekoDealroom has a profile for this one. Try Dealroom → raised GHS 700m ($60.3m) in its initial public offering (IPO) on the Ghana Stock ExchangeDealroom has a profile for this one. Try Dealroom → (GSE), then watched its shares climb 79% after listing. The company offered 583.3 million shares at GHS 1.20 each and drew bids for nearly two and a half times that amount.
Why now? The IPO rode a historic rally on the GSE, where the Composite Index gained 67.9% in cedi terms in the first half of 2026 — the best of any African exchange. That followed a 79.4% surge in 2025, drawing investors into equities as falling inflation and bond yields boosted the appeal of stocks.
How did it go? The offer closed on June 1 with 18,781 bidders tendering $147.5m for 1.4 billion shares — a 146% oversubscription. Each investor received 40.6% of the shares applied for, with the rest of their money refunded.
Kasapreko listed on June 15 under the ticker KASA at GHS 1.35, peaked at GHS 2.30 on June 23, and closed at GHS 2.15 on July 22. That values the company at GHS 8.9bn ($765m).
The numbers: Managing director Richard Adjei said the firm has grown to GHS 3.5bn ($303m) in revenue. Some 96% of the IPO proceeds (GHS 672m) will fund a new plant in Adeiso, in Ghana's Eastern Region, to expand soft drink and bottled water output.
What's the endgame? Founded in 1989 by entrepreneur Kwabena Adjei, Kasapreko has grown into a multinational beverage company. Its flagship is Alomo Bitters, a herbal alcoholic drink, alongside whiskey, gin, wine, soft drinks, and bottled water. Adjei said the capital would "accelerate our growth agenda," including scaling its international business.
Absa Bank Ghana, Consolidated Bank Ghana, and Databank Brokerage acted as joint lead managers.
The signal: Kasapreko follows petroleum firm Zen PetroleumDealroom has a profile for this one. Try Dealroom →, whose 51% oversubscribed listing likely built confidence for local issuers. With Ghana's pension funds managing GHS 109bn ($9.4bn) and increasingly favouring equities, the surging bourse is pulling more domestic businesses toward public markets.
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