Digicut Raises GH¢2.85M Ghana Alternative Market

Accra, April 11, 2018//-Digicut Production and Advertising has raised a total of 2.85 million Cedis on the Ghana Alternative Market (GAX).

This makes Digicut the first advertising company to list on the alternative market as well as the first to list this year.

Currently there are six companies listing on the GAX.

The Ghana Stock Exchange (GSE) in 2013 introduced the GAX for small and medium scale enterprises that may not meet the requirements for listing on the main burse.

Speaking to Citi Business News, the General Manager of Digicut Production and Advertising Richmond Lankwei Lamptey said he is hopeful the listing will push the company to a new level.

“It was a lot of work trying to go through our books and put things together to be able to list on GAX because there are expectations. So we went through it and then on the first of March we launched the IPO. Today we made it on the listing. Just after listing the trading started and we have gone up by 12.5% already” he exclaimed.

He further assured investors of better returns to gain profit on their investments

“We will make sure that we are working for the profitability of the money so they can gain value for the money they have invested in the company”, he said.

Commenting on the listing, Managing Director of the Ghana Stock Exchange Kofi Yamoah said he is hopeful the new entrant will enhance its competitiveness with the listing.

“The market is there for them to raise capital and expand, and to retool to be able to grow. One way these companies can sustain themselves into the future is to be able to list on the market and expand, so they can withstand shaky grounds. This will also help them expand and survive competition” he assured.

Citibusinessnews

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