PETROSOL Platinum Energy debuts with oversubscribed GH₵100m bond

PETROSOL Platinum Energy PLC has successfully debuted on the Ghana Fixed Income Market (GFIM) of the Ghana Stock Exchange with a maiden GH₵100 million corporate bond issuance. The offering was significantly oversubscribed, receiving total bids of GH₵178.07 million, representing a 178% subscription rate.

The issuance consisted of two tranches. The four-year Tranche 01 attracted GH₵114.277 million in bids against a GH₵50 million target, a 229% subscription from 66 investors. The five-year Tranche 02 received GH₵63.797 million in bids against its GH₵50 million target, a 128% subscription from 18 investors.

This successful bookbuild follows nearly three years of preparation by the company’s board and management, including governance reforms and restructuring. PETROSOL intends to return to the market at a later date to raise the remaining GH₵100 million under its approved GH₵200 million Note Issuance Programme.