Pulse.com.gh logo
Go


Guinness Ghana Breweries Limited GGBL GHC180m Right Issue oversubscribed

The breweries company succeeded in raising GHC186.4 million instead, which was GHC694,000 more than it had aimed to raise,  and had to return it.

  • Published:
Francis Agbonlahor, MD – GGBL launching the Rights Issue. With him are Stephen Nirenstein, Finance Director, Board Members of GGBL and MD of the GSE play

Francis Agbonlahor, MD – GGBL launching the Rights Issue. With him are Stephen Nirenstein, Finance Director, Board Members of GGBL and MD of the GSE

Guinness Ghana Breweries Limited’s GHC180 million Rights Issue has been over-subscribed.

The breweries company succeeded in raising GHC186.4 million instead, which was GHC694,000 more than it had aimed to raise,  and had to return it.

Guinness Ghana launched the GHS180 million rights offer  in March, 2016 with the aim of  retiring  part of its debt.

READ MORE:Ghana Telecom Vodafone Ghana not enlisting on Stock Exchange any time soon

The company believed that the move would optimise its capital structure and improve its financial and operational flexibility.

Following  an earlier Rights Issue of GHC70,000,000 in November 2011, the Company successfully reduced its outstanding net debt from GHS 104,907,000 as at June 2011 to GHS 5,626,000 as at June 2012.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Taxes In Ghana Don't rejoice; VAT has been hiked through ‘backdoor’ –...bullet
2 Kwabena Duffuor Official: Duffuor’s assets not being auctionedbullet
3 2018 Budget Review Prepare to pay 35% tax if you earn 10k and abovebullet
4 Investment banks in Ghana Top 5 investment banks in Ghana and why...bullet
5 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions...bullet
6 Uche Ofodile Captain Planet’s wife heads MTN Liberiabullet
7 Nigeria To The World Ex-Nigerian Minister appointed to...bullet
8 Education Top 5 private high schools in Ghana according to...bullet
9 Salaries In 2018 Here are the dates public workers will...bullet
10 Ban On Fishing Gov’t isn’t wicked – Prof Boatengbullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
3 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
4 Support Finance minister buys Kantanka carbullet
5 Tech 6 reasons you should buy an iPhone SE instead of any of the...bullet
6 Plane Crash Starbow suspends operations following plane crashbullet
7 Money Alert Meet Africa's richest womanbullet
8 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
9 Bozoma Saint John 10 quotes from Uber top official,...bullet
10 New Phones Nokia MWC 2018 Event in 5 minutesbullet

Business