PETROSOL Platinum Energy PLC, a leading ISO-certified indigenous oil marketing company in Ghana, has secured strong investor confidence after its first-ever GH₵100 million corporate bond recorded an impressive 178% subscription.
The successful transaction saw PETROSOL list its Series 1 and Series 2 Notes on the Ghana Fixed Income Market (GFIM) of the Ghana Stock Exchange (GSE).
The listing represents the company’s maiden issuance under its GH₵200 million Note Issuance Programme, which was recently approved by the Securities and Exchange Commission (SEC) and the Ghana Stock Exchange.
Strong Investor Demand for PETROSOL Bond
PETROSOL’s corporate bond attracted significant demand during the bookbuild process, with investors submitting combined bids of approximately GH₵178.074 million against the targeted GH₵100 million.
This means the bond was 178% subscribed, exceeding the company’s fundraising target by a substantial margin.
The strong subscription level has been described by PETROSOL and its financial advisers as a major indication of institutional investor confidence in the company’s financial position, credibility and future growth strategy.
PETROSOL Strengthens Presence in Ghana’s Capital Market
The successful bond issuance marks an important milestone in PETROSOL’s expansion within Ghana’s capital market and corporate debt market.
The GH₵200 million Note Issuance Programme provides the company with an avenue to raise additional funds to support its business operations, investment plans and long-term growth objectives.
The strong investor response also highlights growing interest in corporate bonds and fixed-income investments in Ghana, while positioning PETROSOL as an increasingly significant indigenous player in the country’s energy and financial markets.
Source: newsthemegh.com