Producers of food supplements, spray starch and detergents, HORDS will today begin trading about 80 thousand shares on the alternate market of the stock exchange.
This was after it successfully managed to raise some 4 million Ghana cedis from its initial public offering.
HORD’s listing brings the number of companies on the market to three after Samba Foods and Meridian Marshalls.
The sudden interest in the alternate market by small businesses has even surprised managers of the GSE, especially for a market that began operations just last year.
Chairman of the council of the Ghana Stock Exchange, Dr. Sam Mensah admonishes that, the interest has been influenced by some aggressive marketing done by managers.
Managing Director of HORDS, Harold Otabil in an interview said, they are planning to use funds raised from the offer to finance expansion works at the company and build new factories.
HORDS on its first day of trading saw 10 pesewa gain in value to start trade at 60 pesewas.
In a related development, four companies including Intravenous Infusion and Ghana Homes are set to list on the Ghana Stock Exchange before the end of this year.
The market since it began operations has helped small businesses to raise long term funds to expand operations. Izwe loans and finance company AFB have also listed corporate bonds on the market.
Source: myjoyonline