ZEN Petroleum Holdings debuts on Ghana Stock Exchange after GH¢640m raise…Downstream firm lists 640m shares in one of GSE’s largest recent offerings
ZEN Petroleum Holdings PLC began trading on the Ghana Stock Exchange on Wednesday, in a listing that ranks among the bourse’s most substantial capital raises in recent years.
The indigenous downstream petroleum company listed 640m ordinary shares following a book-building exercise that raised GH¢640m. The offer of 128m shares at GH¢5.00 each represents 20 per cent of ZEN’s enlarged share capital.
“Today’s listing is not the end of that journey; it is a new phase. It reflects how far we have come and signals our readiness to build a truly enduring Ghanaian enterprise,” said William Tewiah, Managing Director of ZEN Petroleum, at the listing event in Accra.
Proceeds will fund expansion across the downstream value chain, with a focus on infrastructure to improve efficiency and reliability, the company said.
Tewiah added that the listing was intended to broaden ownership: “By listing on the Ghana Stock Exchange, we are opening our doors to the investing public and making a clear statement: ZEN is not just a company built by a few, it is a company that can be owned by many.”
He told investors the company remained “committed to building a company you can trust. One that delivers value consistently and one that Ghanaians can be proud of.”
The debut is expected to deepen retail and institutional participation on the GSE and widen investor access to Ghana’s energy sector.
