The Ghana Stock Exchange has officially welcomed the listing and trading of DAS Pharma Plc shares.
The activity follows the completion of the merger of pharmaceutical companies Dannex, Ayrton and Starwin.
The company is seeking to solidify its position in the pharmaceutical industry with its new focus on boosting its product offerings and expansion into other markets within West Africa and beyond.
The Chairman of DAS Pharma, Nik Amarteifio in an interview with Citi Business News was hopeful the move will attract more businesses unto the bourse.
“There are a lot of sovereign funds available but they do not have yields. Likewise is there a lot of money floating for Africa and Ghana but there are no projects to invest in. So, we are sending a signal to the Ghana Stock Exchange and people who have created companies that if they want to grow, apart from debt that they borrow money to do so, they can also have people coming in with equity to support them to go forward,” he indicated.
The CEO of DAS Pharma, Dennis Kissi on his part stressed efforts to work harder to boost returns on investments for shareholders.
“Within the next one to two years, we should be present in one of the major markets in West Africa. As far as listing is concerned, we hope that other companies will follow suit. I cannot predict how the share prices will be but we are hoping that our market will thrive,” Mr. Kissi remarked.
The entire merger process started about six years ago when Dannex, a local pharmaceutical company, acquired majority shares in Starwin Products Limited.
The acquisition which was made through a rights issue where Dannex became the biggest shareholder of the company with 71.33 percent shares translating to 185,317,279 shares.
Presently, DAS Pharma offers the pharmaceutical market eighty products.
The company also has a staff strength of 650.
At the beginning of trading on Wednesday morning, a share of DAS Pharma traded at forty pesewas (GH¢0.40).
Citibusiness news